List four protectionist policies.
What will be an ideal response?
Protectionist policies include import bans, import quotas, voluntary export restraints, and tariffs.
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If the price of chocolate increases by 15 percent and the quantity demanded of chocolate declines by 5 percent, the price elasticity of demand ( ) is -3
a. True b. False Indicate whether the statement is true or false
Under the assumptions of the Fisher effect and monetary neutrality, if the money supply growth rate falls, then
a. both the nominal and the real interest rate fall. b. neither the nominal nor the real interest rate fall. c. the nominal interest rate falls, but the real interest rate does not. d. the real interest rate falls, but the nominal interest rate does not.
In recent years, the Federal Reserve has conducted policy by setting a target for the
a. size of the money supply. b. growth rate of the money supply. c. federal funds rate. d. discount rate.
Streaming Netflix movies would be considered:
A. an artificially scarce good. B. a public good. C. a common resource. D. a private good.