If the United States negotiates a voluntary export restraint with international sugar producing nations, then
A) U.S. sugar buyers pay a lower price for sugar.
B) U.S. sugar producers produce a smaller quantity.
C) imports of sugar increase.
D) the U.S. government collects less revenue than if it imposed a tariff on sugar.
E) the foreign governments collect more revenue than if a tariff is imposed on sugar.
D
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In making decisions about what to consume, a person's goal is to
A) allocate her limited income among all the products she wishes to buy so that she receives the highest total utility. B) maximize her marginal utility from the goods and services she wishes to buy using her limited income. C) buy low-priced goods rather than high-priced goods. D) consume as many necessities as possible and then, if there is money left over, to buy luxuries.
In the period 1960–95,
(a) the relations between capital and labor (owners and workers) continued to be as hostile and violent as they were in the 1930s and earlier. (b) the relations between capital and labor (owners and workers) continued to be cooperative and peaceful, as they had been throughout U.S. history. (c) an accord was struck which involved more cooperative relations between capital and labor and encouraged high rates of productivity in industry. (d) the federal government intervened with a strong hand to ensure that labor and capital worked together cooperatively.