The most vocal political pressure for tariffs is generally made by
A) consumers lobbying for export tariffs.
B) consumers lobbying for import tariffs.
C) consumers lobbying for lower import tariffs.
D) producers lobbying for export tariffs.
E) producers lobbying for import tariffs.
E
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A recent survey by India's central bank reported that spending plans by firms on large new projects fell by 46 percent in the year ending March 2012, compared with the prior year. This decrease will most directly impact
A) physical capital growth. B) human capital growth. C) technological change. D) population growth.
The law of supply states that:
A. there is a negative relationship between the price of a good and the quantity of it purchased by suppliers. B. there is a positive relationship between the price of a good and the quantity that buyers choose to purchase. C. there is a positive relationship between the price of a good and the quantity of it offered for sale by suppliers. D. at a lower price, a greater quantity will be supplied.
Both the marginal cost and the average variable cost curves are U-shaped. At the minimum point on the average variable cost curve, the marginal cost must be:
A. greater than the average variable cost. B. less than the average variable cost. C. equal to the average variable cost. D. at its minimum.
Studies of real world markets suggest that prices and the number of firms of comparable size in a market are:
A. positively related. B. negatively or inversely related. C. not related. D. sometimes negatively or inversely related, but usually positively related.