Which of the following statements best describes high-income economies’ relationship with inflation?
a. The high-income economies appear to have a political consensus to hold inflation low, but not the economic tools to do so.
b. The high-income economies appear to have the economic tools to hold inflation low, but not the political consensus to do so.
c. The high-income economies appear to have both a political consensus to hold inflation
low, and the economic tools to do so.
d. The high-income economies do not appear to have a political consensus to hold inflation low, and the economic tools to do so.
c. The high-income economies appear to have both a political consensus to hold inflation
low, and the economic tools to do so.
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Importers collect additional revenues from a ________, and governments collect additional revenues from ________
A) quota; import bans B) quota; tariffs C) tariff; voluntary export restraints D) voluntary export restraint; quotas
The slope
A) of a straight line is the same regardless of where on the line it is calculated. B) equals the change in the value of the variable measured on the vertical axis divided by the change in the variable measured along the horizontal axis. C) will be small if a large change in the variable measured on the vertical axis is associated with a small change in the variable measured along the horizontal axis. D) Answers A and B are correct. E) Answers A and C are correct.
What is a supply shock? What is a demand shock? Describe an example of a supply shock and of a demand shock
What will be an ideal response?
_____ prefer a quota to an import tax
a. Foreign producers b. Importers c. Consumers d. Foreign consumers