Tariffs are frequently used in less-developed countries because _____
a. the governments need more revenue
b. the governments want to encourage exports
c. the governments find it easier to monitor border transactions than interior transactions
d. the governments prefer to tax goods over services
c
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If the dollar is undervalued against the peso, it implies that:
A) quantity of dollar supplied in exchange of pesos equals the quantity of dollars demanded in exchange of pesos in the foreign exchange market. B) quantity supplied of dollar in exchange of pesos exceeds the quantity of dollars demanded in exchange of pesos in the foreign exchange market. C) the exchange rate between the dollar and the peso is flexible. D) quantity supplied of dollar in exchange of pesos is less than the quantity of dollars demanded in exchange of pesos in the foreign exchange market.
The adult population must equal the sum of the employed, the unemployed, and those not in the labor force
a. True b. False Indicate whether the statement is true or false
If a firm increases all of its inputs by 10 percent and its output increases by 10 percent, then:
A. the marginal products of all inputs are falling. B. it is encountering diseconomies of scale. C. it is encountering economies of scale. D. it is encountering constant returns to scale.
Refer to the information provided in Figure 3.1 below to answer the question(s) that follow.
Figure 3.1Refer to Figure 3.1. Which of the following would be most likely to cause the demand for Dr. Pepper to shift from D0 to D1?
A. a reduction in the price of sugar used to make Dr. Pepper B. an increase in the price of 7-UP, assuming 7-UP is a substitute for Dr. Pepper C. a decrease in income, assuming that Dr. Pepper is a normal good D. a decrease in the price of Dr. Pepper