Which of the following statements about international trade restrictions is true?
a. They ensure that only efficient producers survive.
b. They ensure that countries specialize only in those products that they can produce most efficiently.
c. In the majority of cases, they harm domestic consumers.
d. They typically benefit foreign producers at the expense of domestic consumers.
e. They ensure that higher-quality goods are provided at lower prices.
c
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Status-quo bias is:
A. a type of mental barrier to saving. B. when people actively make decisions to change something, even if it is fairly difficult to do so. C. not overcome in the SMarT program because saving is the default option. D. when people have a negative view on the status quo.
What do real interest rates account for that nominal interest rates do not?
The quantity of raspberries sold at a local store increases from 100 pints to 1,500 pints when the price is reduced from $4.00 to $1.00. In this situation, the absolute price elasticity of demand for raspberries is approximately
A. 4.3. B. 6.7. C. 0.69. D. 1.46.
Without orphan drug laws,
A. people without parents could not afford drugs. B. people with uncommon diseases would have little hope of companies seeking a cure for their ailment. C. more people would risk losing their parents to disease. D. people with common diseases would have little hope of companies seeking a cure for their ailment.