Refer to the Article Summary. All else equal, if countries decide to enact protectionist measures against Chinese steel imports, the price of steel in those countries will ________ and the quantity of steel demanded in those countries will ________
A) increase; increase
B) increase; decrease
C) decrease; decrease
D) decrease; increase
B
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The above figure shows the demand and cost curves for a firm. The figure shows a
A) monopolistically competitive firm in the long run. B) perfectly competitive firm earning zero profit. C) monopolistically competitive firm in the short run. D) perfectly competitive firm in the short run.
According to new growth theory,
A) growth in real GDP per capita occurs only if there are increasing returns. B) technological change is influenced by economic incentives. C) economic growth is determined by forces outside the control of the market system. D) centrally-planned economies are the most efficient.
In long-run equilibrium, a perfectly competitive firms produces at the output level at which: a. total revenue is maximized
b. long-run marginal cost is minimized. c. average total cost is minimized. d. short-run variable cost is minimized.
Which of the following best describes bank regulations?
a. Bank regulation falls into a number of categories, including reserve requirements, capital requirements, but not restrictions on the types of investments banks may make. b. Bank regulation falls into a number of categories, including reserve requirements, capital requirements, and restrictions on the types of investments banks may make. c. Bank regulation falls into a number of categories, including reserve requirements, restrictions on the types of investments banks may make, but not capital requirements. d. Bank regulation falls into a number of categories, including capital requirements, and restrictions on the types of investments banks may make, but not reserve requirements.