When a nation totally bans trade with another country, it is imposing a(n):
a. tariff. b. embargo.
c. quota. d. none of these.
b
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Which of the following would lead to an increase in the demand for fast food in Chicago?
a. An increase in Chicago's population b. A decrease in average consumer income in Chicago. c. A front page newspaper article in Chicago stating that fast food is very bad for your health. d. A decrease in the average price charged by sit-down restaurants.
The Scarcity Principle states that:
A. society will eventually run out of resources. B. some countries have fewer resources than others. C. with limited resources, having more of one thing means having less of another. D. people don't have enough money to buy what they want.
When the euro appreciated significantly against the U.S. dollar, European policymakers were concerned.To stop the appreciation of the euro, the European Central Bank could have adopted a macroeconomic policy that:
A. reduced the supply of euros but increased the demand. B. reduced both the supply and demand for euros. C. increased both the supply and the demand for euros. D. reduced the demand for euros but increased the supply.
Which of the diagrams correctly portrays the demand (D) and marginal revenue (MR) curves of a purely competitive seller?
A. A.
B. B.
C. C.
D. D.