If protective import-restricting quota are imposed by a country, in the majority of cases that nation's consumers end up
A) paying a lower price for the good than they otherwise would.
B) consuming more of the good than they otherwise would.
C) having more consumption choices than they otherwise would.
D) consuming less of the good than they otherwise would.
Answer: D
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The U.S. tax code allows taxpayers to deduct the value of charitable contributions from their taxable income
Explain if this is an example of an incentive, and what effect this policy is likely to have on the amount of charitable contributions in the United States.
A current account surplus
A) poses a problem if domestic savings are being invested more profitably abroad than they would be at home. B) may pose no problem if domestic savings are being invested more profitably abroad than they would be at home. C) may pose no problem if domestic savings are being invested less profitably abroad than they would be at home. D) there is no relation between current account surplus and between savings and investment. E) poses a problem if domestic savings are being invested less profitably abroad than they would be at home.
What was the decline in the value of mutual funds held by households during the depths of the financial crisis, between the third quarter of 2008 and the first quarter of 2009
A) $2 million B) $2 billion C) $200 billion D) $2 trillion
Which of the following would most likely be highly price-elastic?
a. The demand for milk by a household b. The demand for insulin by a diabetes patient c. The demand for water d. The demand for new houses e. The demand for coal over a period of one month