A country could correct a balance-of-payments surplus by
A. Expansionary fiscal policy.
B. Contractionary monetary policy.
C. Increasing tariffs on imported goods.
D. Decreasing the money supply.
Answer: A
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Which of the following is true regarding a price support set above the equilibrium price?
i. The price support increases the price consumers pay. ii. The price support creates a deadweight loss. iii. The price support decreases output. A) i and ii B) i and iii C) iii only D) i, ii, and iii E) i only
Why doesn't a firm price discriminate based on income levels?
A) It would be nearly impossible to conveniently confirm any individual's income level. B) It is illegal to ask someone their income levels. C) It is immoral to price discriminate based on income levels. D) They do: It is common practice for firms to price discriminate based on income.