What are the three major types of quotas?
What will be an ideal response?
Formal quotas outright limit the quantity of imports; import licenses; voluntary export restraints
Economics
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Janet Yellen, Chair of the Federal Reserve, must choose whether tomorrow she meets with the Secretary of the Treasury or with the Congress regarding the financial crisis. This choice reflects the
A) fact that Ms. Yellen faces scarcity. B) concept of entrepreneurship. C) fact that Ms. Yellen responds to incentives. D) use of capital.
Economics
Based on the above figure, for which of the following levels of output at Ike's Ice Cream Kitchen does the marginal product of labor exceed the average product of labor?
A) at 10 gallons B) at 40 gallons C) at 70 gallons D) all of the above
Economics