An import quota restricts ________ and is designed to protect domestic ________
A) exports; consumers
B) exports; producers
C) imports; consumers
D) imports; producers
D
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________ decreases aggregate supply
A) A rise in the money wage rate B) An increase in potential GDP C) A fall in the money wage rate D) An increase the quantity of capital E) A rise in the price level
Which of the following is NOT a government response to asymmetric information?
A) liability laws B) social regulation C) manufacturer's warranties D) government licensing
The major assets and liabilities of a bank are
a. demand deposits and reserves, respectively b. demand deposits and gold, respectively c. reserves and demand deposits, respectively d. reserves and excess reserves, respectively e. demand deposits and excess reserves, respectively
Suppose a perfectly competitive industry is in long-run equilibrium. If a decrease in demand leads to a lower long-run price, we know that
A. some firms will be losing money in the long run. B. this is an increasing-cost industry. C. this is a decreasing-cost industry. D. after further adjustments, price will rise to its original level.