Which of the following was considered a mild recession?
A. 1937-1938
B. 1973-1975
C. 1981-1982
D. 1990-1991
D. 1990-1991
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Which of the following situations will arise in the domestic market following the imposition of an import quota?
A) imports decrease, domestic production decreases, prices increase B) imports increase, domestic production decreases, prices decrease C) imports decrease, domestic production increases, prices increase D) imports decrease, domestic production increases, prices decrease
Suppose Ukraine subsidizes Ukrainian wheat farmers, while Russia offers no subsidy to Russian wheat farmers. As a result of the Ukrainian subsidy, sales of Ukrainian wheat to Russia
a. may prompt Russian farmers to invoke the infant-industry argument. b. increase the consumer surplus of Russian buyers of wheat. c. decrease the total surplus of the Russian people. d. All of the above are correct.
Which of the following statements is false?
A) The issuer of a bond is a borrower. B) The person who buys a bond is a lender. C) Interest earned on corporate bonds is exempt from federal income taxes. D) The coupon rate on a bond is the percentage of the face value that the bondholder receives annually until the bond matures.
Which of the following is one of the macroeconomic goals established by the 1946 Employment Act?
A. Providing an economic environment conducive to growth B. Maintaining a constant level of consumer expenditure C. Preventing large fluctuations in exchange rates D. Ensuring that employers pay workers a minimum wage sufficient to escape poverty