If a small country imposes a tariff, then
A) the producers must suffer a loss.
B) the consumers must suffer a loss.
C) the government revenue must suffer a loss.
D) the demand curve must shift to the left.
E) the world price on that item will shift.
B
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The price elasticity of demand for widgets is -0.80. Assuming no change in the demand curve for widgets, a 16% increase in sales implies a _______ reduction in price.
A. 40% B. 1% C. 12% D. 20%
Suppose the per-unit production cost of a book is $4.00 and the retail price is $32
If the book publisher sells books to a bookstore at a 40 percent discount, what is the amount of the publisher's markup per book? Assume that bookstores sell books at the retail price. A) $12.80 B) $15.20 C) $19.20 D) $21.60
According to Keynesians, the primary reason money is not neutral is
A) rational expectations. B) price stickiness. C) reverse causation. D) misperceptions over the aggregate price level.
The inflation rates in the 7 major industrialized countries
a) have fallen steadily since 1970 b) reached a peak in the mid-1990s c) have been historically high in all countries except the U.S. during the 1990s d) have been nearly zero since 1970, because prices have been stable e) were higher in the mid- and late 1970s than at any time since