In the figure above, with international trade U.S. companies buy ________ helicopters per year
A) 240
B) 480
C) 720
D) 360
A
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In the country levying the tariff, the tariff will
A) increase both consumer and producer surplus. B) decrease both the consumer and producer surplus. C) decrease consumer surplus and increase producer surplus. D) increase consumer surplus and decrease producer surplus. E) decrease consumer surplus but leave producers surplus unchanged.
Assume the firms in a monopolistically competitive industry initially are earning positive economic profits. Which of the following will not occur over time?
A) The firms' economic profits will be reduced. B) New firms will enter. C) Demand for the existing firms' output will become more inelastic. D) The number of substitutes available in the industry will increase.
Most of the growth in plastic card use has been in
A) credit cards. B) debit cards. C) online purchases. D) electronic transfer.
If deviations from trend in a macroeconomic variable are negatively correlated with deviations from trend in real GDP, that variable is said to be
A) useless in predicting future movements in real GDP. B) procyclical. C) countercyclical. D) acyclical.