A horizontal line has a slope of 0
a. True
b. False
Indicate whether the statement is true or false
True
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The U.S. is planning on imposing quotas on tires imported from china. Domestic retailers predict this will result in an increase in consumer prices on tires by about $10
Use a supply and demand graph with brief explanation to show the effects of an import quota. Assume the quota is binding.
The right to openly support and to elect leaders in a democratic way is known as
A) political freedom. B) economic freedom. C) constitutional freedom. D) external freedom.
Public choice theory indicates that the behavior of people in government
a. differs from the behavior of people in the private sector because they are motivated by the public interest rather than their own personal self-interest. b. differs from the behavior of people in the private sector because public sector decision roles do not allow people to pursue their own self-interests. c. is the same as people in the private sector only if decisions are made by majority vote. d. is best understood by applying the same principles we use to predict the behavior of people in the private sector.
If the federal funds rate were below the level the Federal Reserve had targeted, the Fed could move the rate back towards its target by
a. buying bonds. This buying would increase the money supply. b. buying bonds. This buying would reduce the money supply. c. selling bonds. This selling would increase the money supply. d. selling bonds. This selling would reduce the money supply.