The vicious circle of poverty refers to the fact that LDCs are poor because other countries do not want to buy their goods and services
a. True
b. False
Indicate whether the statement is true or false
False
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A consumption tax would lead to an increase in the supply of loanable funds and a decrease in real interest rates
a. True b. False Indicate whether the statement is true or false
Discrimination occurs when the marketplace offers different opportunities to similar individuals who differ only by
a. race. b. level of education. c. attitudes toward risk. d. All of the above are forms of discrimination.
If a central bank were required to target inflation at zero, then when there was a negative aggregate supply shock the central bank
a. would have to increase the money supply. This would move unemployment closer to the natural rate. b. would have to increase the money supply. This would move unemployment further from the natural rate. c. would have to decrease the money supply. This would move unemployment closer to the natural rate. d. would have to decrease the money supply. This would move unemployment further from the natural rate.
The demand for microwaves in a certain country is given by: D = 8,000 - 30P, where P is the price of a microwave. Supply by domestic microwave producers is: S = 4,000 + 10P. If this economy opens to trade while the world price of a microwave is $50, and the government imposes a tariff of $30 per microwave, then the tariff revenue collected by the government will be ________.
A. $4,000 B. $60,000 C. $24,000 D. $40,000