Which of the following parties benefits from an import quota but not from a tariff?
A) the foreign government
B) the person with the right to import the good
C) domestic producers
D) domestic consumers
E) the domestic government
B
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A unit tax is a fixed amount per unit of a commodity sold.
A. True B. False C. Uncertain
Hamid spends an hour studying instead of watching TV with his friends. The opportunity cost to him of studying is
a. the improvement in his grades from studying for the hour. b. the improvement in his grades from studying minus the enjoyment of watching TV. c. the enjoyment he would have received if he had watched TV with his friends. d. zero. Since Hamid chose to study rather than to watch TV, the value of studying must have been greater to him than the value of watching TV.
Profit per unit is equal to
A. P - MR. B. TR - ATC. C. P - ATC. D. TR - TC.
The Federal Reserve can increase aggregate demand by:
A. Reducing the money supply B. Reducing the discount rate C. Raising the reserve requirement D. Selling government securities in the open market