An official agreement with another country to restrict the quantity of its exports to the U.S. is

A) a regional trade bloc.
B) the quota system.
C) a voluntary import expansion.
D) a voluntary restraint agreement.

D

Economics

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In the 1800s, people in mining towns in the West often paid for goods with gold nuggets or gold dust. What was the function of gold?

(A) It was used as representative money. (B) It was used as fiat money. (C) It was used as part of a barter system. (D) It was used as a currency.

Economics

An increase in the price of good X causes the demand for good Y to shift inward. One can conclude that X and Y are:

a. complements. b. substitutes. c. unrelated goods. d. normal goods. e. exceptions to the law of demand.

Economics