Which of the following would be expected if the tariff on foreign-produced automobiles were increased?
a. The domestic price of automobiles would fall.
b. The supply of foreign automobiles to the domestic market would decline, causing auto prices to rise.
c. The number of unemployed workers in the domestic automobile industry would rise.
d. The demand for foreign-produced automobiles would increase, causing the price of automobiles to increase in other nations.
B
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Refer to the table above. By what percentage did the federal minimum wage increase from 1974 to 2011?
A) 72.41 percent B) 262.5 percent C) 362.5 percent D) 525.0 percent
The Bureau of Labor Statistics' U-2 measure of joblessness includes job losers and job leavers
a. True b. False Indicate whether the statement is true or false
Figure 17-8
Refer to . If this country allows free trade in wagons,
a.
consumers will gain and producers will lose.
b.
consumers will lose and producers will gain.
c.
both consumers and producers will gain.
d.
both consumers and producers will lose.
A reason why the CPI overstates the cost of living is it
A. makes no attempt to control for quality improvements, except in consumer goods. B. makes no attempt to update the market basket. C. only measures the effects of inflation on the poor. D. makes no attempt to ascertain what average people buy.