Refer to the information provided in Figure 4.5 below to answer the question(s) that follow.
Figure 4.5Refer to Figure 4.5. The price of CD-Rom drives in the United States would be $15 per CD-Rom drive, and the United States would import 9 million CD-Rom drives if the United States imposed ________ tariff per CD-Rom drive on imported CD-Rom drives.
A. no
B. a $10
C. a $15
D. a $25
Answer: A
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One result of a decrease in aggregate demand and no change in aggregate supply is
A) a recession. B) an increase in employment levels. C) an economic expansion. D) a rise in the price level.
Suppose that a new bond rating service is established that specializes in rating municipal bonds that had not previously been rated. The likely result would be
A) a shift to the left in the demand curve for municipal bonds. B) a shift to the left in the supply curve for municipal bonds. C) an increase in the equilibrium interest rate. D) a decrease in the equilibrium interest rate.
A major problem with household data is that:
a. the income of the households vary greatly. b. the households usually vary in their consumption patterns. c. the households usually comprise of only one individual. d. collecting data from the households is highly inconvenient. e. the number of persons per household varies greatly.
Its critics claim that when advertising ____ the elasticity of demand, firms are able to ____
a. decreases; lower their advertising budget b. increases; become more competitive c. increases; increase their advertising budget d. decreases; charge a larger mark-up over marginal cost