A(n) ________ is a trade policy by which a nation agrees to limit its exports of a good in order to avoid more restrictive trade policies.
A. tariff
B. voluntary export restraint (VER)
C. import quota
D. import ban
Answer: B
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Use the following figure showing the domestic demand and supply curves for product B in a hypothetical economy to answer the next question.
After trade, at a world price of Pw, consumer surplus equals area(s)
A. A + B + C + D. B. A + D. C. A. D. A + B + C.
One attitude shift in the United States is that people are beginning ___________ at an earlier age
a. Travel planning b. Career planning c. Retirement planning d. Estate planning
The national debt
a. exists because of past government budget deficits b. is the difference between the government's spending and revenue in a given year c. is the amount households owe on credit cards, mortgages and other loans d. is a flow variable e. is the same as the government's budget deficit
Which of the following would cause the actual deposit expansion multiplier to be less than its potential?
a. the general public holding of funds in the form of currency rather than bank deposits b. the holding of excess reserves by commercial banks c. the general public holding of funds in the form of coins rather than bills d. both a and b