Which term refers to a rule that every imported product must be opened by hand and inspected with a magnifying glass, by one of just three government inspectors available at any given time?
a. a non-tariff barrier
b. a quota
c. a government bureaucracy
d. an import quota
a. a non-tariff barrier
A rule that every imported product must be opened by hand and inspected with a magnifying glass, by one of just three government inspectors available at any given time might be referred to as a non-tariff barrier.
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An example of an external force affecting the business cycle is
a. an inventory accumulation. b. the multiplier effect. c. a change in business attitudes toward investment. d. a change in the discount rate by the Fed.
Given the characteristics: (1) many buyers and sellers, (2) free entry and exit, (3) perfect information, and (4) heterogeneity of products, monopolistic competition and perfect competition share
a. (1) and (4). b. (1), (2), and (3). c. (2) and (4). d. (2), (3), and (4).
Other things remaining the same, if a nation's expected return on assets and inventories rises, the demand to hold money:
a. Falls. b. Rises. c. Does not change.
Which of the following is TRUE about unions?
A) Unions in some settings are associated with increased productivity. B) Unions in some settings have been effective in promoting general social legislation. C) Both A and B are correct. D) Neither A nor B is correct.