If a price floor of $23 were placed in the market in the graph shown:
A. all producers are better off.
B. all consumers are better off.
C. some surplus is transferred from producer to consumer.
D. some surplus is transferred from consumer to producer.
Answer: D
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The above figure shows the U.S. market for replacement cell phone batteries. With free trade, U.S. production is equal to ________ batteries per year. When a $2 tariff is in place, U.S. production is equal to ________ batteries per year
A) 100,000; 300,000 B) 100,000; 500,000 C) 300,000; 100,000 D) 300,000; 500,000 E) 900,000; 700,000
Withholding of the federal income tax _____
a. was first used during the civil war b. was first used during World War I c. was first used during World War II d. was first used after World War II
If an increase in the price of some goods outweighs other prices that remain constant or decrease then there is:
A. Inflation. B. Deflation. C. Stagflation. D. Reflation.
Riskier investments tend to sell for:
A. lower prices so they provide a higher expected rate of return to compensate for risk. B. higher prices so they provide a higher expected rate of return to compensate for risk. C. higher prices; that is why they are considered to be riskier. D. prices directly correlated with expected rates of return.