Which of the following is the best example of a quota?
A. a tax placed on all small cars sold in the domestic market
B. a limit imposed on the number of men's suits that can be imported from a foreign country
C. a subsidy from the U.S. government to domestic manufacturers of men's suits so they can compete more effectively with foreign producers of men's suits
D. a $100-per-car fee imposed on all small imported cars
Answer: B
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Because Texas is a part of the United States, it also implements a political system, which defines that
a. Have the fundamental rights to govern these territories. b. President of the United States c. Governor of the State of Texas Congress d. The People e. Supreme Court judges
Money facilitates trade because
a. it eliminates the need for specialization b. it prevents people from taking advantage of each other c. it serves as a medium of exchange d. division of labor allows money to be produced at a lower cost e. people do not benefit from barter unless money is used
According to the theory of rational expectations, the government can influence output
A. with appropriate fiscal and monetary policy. B. in the short run, but not in the long run. C. without affecting the price level. D. only by making unexpected changes in aggregate demand.
Answer the following statement true (T) or false (F)
1) If prices received by farmers decline and prices paid by farmers increase, the parity ratio will decline. 2) The Food, Conservation, and Energy Act of 2008 provides three types of agricultural subsidies: direct payments, countercyclical payments, and marketing loans. 3) The federal government has not paid subsidies to farmers since passage of the Freedom to Farm Act in 1996. 4) Environmentalists generally support price supports because these subsidies motivate additional farm production. 5) The principal beneficiaries of government agricultural aid have been the very low-income farmers.