Assume that the United States imposes a quota on Scottish wool suits. Relative to the equilibrium price that would exist in the absence of quotas, the equilibrium price of suits in the United States will most likely _ , and the equilibrium price of suits in Scotland will most likely _ .

A) remain the same; decrease
B) remain the same; increase
C) increase; increase
D) increase; decrease

Answer: D) increase; decrease

Economics

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A bank has $10,000 in excess reserves and the required reserve ratio is 20 percent. This means the bank could have __________ in checkable deposit liabilities and __________ in total reserves

A) $80,000, $10,000 B) $100,000, $20,000 C) $50,000, $25,000 D) $100,000, $30,000

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Economics

What have been the major outcomes from deregulation of industry? Give three examples of changes in particular industries

What will be an ideal response?

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Economics

Assume that the United States imposes a quota on Scottish wool suits. Relative to the equilibrium price that would exist in the absence of quotas, the equilibrium price of suits in the United States will most likely _______ , and the equilibrium price of suits in Scotland will most likely _______ .

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Assume that the United States imposes a quota on Scottish wool suits. Relative to the equilibrium price that would exist in the absence of quotas, the equilibrium price of suits in the United States will most likely _ , and the equilibrium price of suits in Scotland will most likely _ .