Refer to the information provided in Figure 4.5 below to answer the question(s) that follow.
Figure 4.5Refer to Figure 4.5. The price of CD-Rom drives in the United States would be $15 per CD-Rom drive, and the United States would import 9 million CD-Rom drives if the United States imposed ________ tariff per CD-Rom drive on imported CD-Rom drives.
A. no
B. a $10
C. a $15
D. a $25
Answer: A
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Which of the following shifts the demand curve for movies leftward?
A) a decrease in the price of NetFlix, a substitute for movies B) a decrease in the price of movie tickets C) an increase in movie star salaries D) an increase in incomes, assuming movies are a normal good E) an increase in the price of movie tickets
Refer to Figure 11-16. The figure above illustrates a series of isoquants. Which of the following statements is true?
A) Points z and y represent the same output; this output is produced with more capital at z than at y. B) Point z represents a greater output than point x or point y. C) Points x, z, and y all represent the same output. D) Point x and y represent the same output but the cost of production at y is greater than the cost of production at x.
Pete the Pizza Man produced $87,000 worth of pizzas in the past year. He paid $39,000 to employees, paid $11,000 for vegetables and other ingredients, and paid $5000 in taxes
He began the year with ingredient inventories valued at $1000, and ended the year with inventories valued at $2000. What was Pete's (and his employees') total contribution to GDP this year?
A short contract requires that the investor
A) sell securities in the future. B) buy securities in the future. C) hedge in the future. D) close out his position in the future.