When a tariff is imposed on a good, the ________ increases
A) domestic quantity purchased
B) domestic quantity produced
C) quantity imported
D) quantity exported
E) world price
B
Economics
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The demand curve faced by a monopolistically competitive firms is
A) horizontal. B) vertical. C) downward sloping. D) unitary elastic.
Economics
The one quirk that labor markets have, which helps explain why unemployment goes up so much in a recession is that:
A. A price floor called a "minimum wage law" exists for the labor market B. Wages are flexible upward but "sticky" downward C. Firms are "demanders" of labor, rather than suppliers D. Machines could "replace" humans in the labor market
Economics