A reduction in tariffs and quotas on imported goods shifts the
A. AS curve to the right.
B. AS curve to the left.
C. AD curve to the left.
D. None of the choices are correct.
Answer: A
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This figure shows the payoffs involved when Sarah and Joe work on a school project together for a single grade. They both will enjoy a higher grade when more effort is put into the project, but they also get pleasure from goofing off and not working on the project. The payoffs can be thought of as the utility each would get from the effort they individually put forth and the grade they jointly receive.The game in the figure shown is a version of:
A. a cooperative game. B. an ultimatum. C. a simultaneous game. D. a sequential game.
The act of buying a commodity in one market at a lower price and selling it in another market at a higher price is known as:
a. selling short. b. buying long. c. arbitrage. d. a tariff.
_____________________________: A sale price adjustment must be made if the legal estate, or bundle of rights, of a comparable property differ from those of the subject property.
Fill in the blank(s) with the appropriate word(s).
The main tool that the Federal Reserve uses to conduct monetary policy is
A) discount policy. B) open market operations. C) acting as the lender of last resort. D) check clearing. E) setting reserve requirements.