Tariffs:
A. may be imposed either to raise revenue (revenue tariffs) or to shield domestic producers
from foreign competition (protective tariffs).
B. are also called import quotas.
C. are excise taxes on goods exported abroad.
D. are per-unit subsidies designed to promote exports.
A. may be imposed either to raise revenue (revenue tariffs) or to shield domestic producers
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The nutritional information now available at many fast food restaurants is an example of:
A. a failed attempt by government to reduce information asymmetry. B. requiring the more informed party to reveal the missing information. C. government regulation to screen out unhealthy food for consumers. D. government requiring the restaurants to signal whether food is healthy or not.
Durable goods are:
a. consumers' goods b. raw materials combined to produce consumer goods c. those that must be replaced after each use d. those that may be stored and repaired e. none of the above
If a country’s GDP increases, but its debt decreases during that year, what will happen to the country’s debt to GDP ratio for the year in proportion to the magnitude of the changes?
a. Increase or decrease b. Decrease because its debt decreased c. Increase because GDP increased d. Decrease
How do automatic stabilizers, on both the expenditure and revenue sides of the budget, respond during a recession?
What will be an ideal response?