The process of developing local industries to manufacture goods to replace imports is known as
A. import promotion.
B. import substitution.
C. export favoritism.
D. export promotion.
Answer: B
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In late 2008, the average risk premium rose because
A) investors feared a revival of inflation. B) large tax increases in the United States reduced corporate profits and led to fears of increased defaults. C) of the financial crisis. D) of fraud in the market for municipal bonds.
A(n) _____ or a spending plan or guide can be helpful by providing a visible means of controlling money
a. Annuity b. Budget c. Net worth statement d. Money calendar
When a U.S. citizen buys $500 of Chinese-made parts for a motorcycle,
a. U.S. consumption falls by $500, U.S. net exports decline by $500, and U.S. GDP declines by $1000. b. U.S. consumption does not change, U.S. net exports decline by $500, and U.S. GDP declines by $500. c. U.S. consumption increases by $500, U.S. net exports remain the same, and U.S. GDP increases by $500. d. U.S. consumption increases by $500, U.S. net exports decline by $500, and U.S. GDP remains the same.
Assume the market is in equilibrium in the graph shown at demand D and supply S2. If the supply curve shifts to S1, and a new equilibrium is reached, which of the following is true?
A. Producer surplus would decrease, and total surplus would decrease. B. Producer surplus would increase, and total surplus would increase. C. Producer surplus would increase, and total surplus would decrease. D. Producer surplus would decrease, and total surplus would increase.