Which of the following mandates that an import distributor must buy a certain percentage of the product locally?
A. A voluntary export restraint
B. An import quota
C. A mixing requirement
D. None of the above
Answer: C
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What is the main purpose of the Federal Reserve System? How does it fulfill this purpose?
Is the characteristic that distinguishes money from other assets its ability to be a store of value?
What will be an ideal response?
The figure illustrates the demand for peanuts. If the price falls from $12 to $9 a bag, total revenue will ________, and if the price rises from $3 to $6 a bag, total revenue will ________
A) increase; decrease B) increase; increase C) decrease; increase D) decrease; decrease
Which of the following is not characteristic of monopolistic competition?
A. Some market power. B. Low concentration ratios. C. Firms have zero control over price. D. Many firms in an industry.