Which one of the following statements about tariffs and quotas is correct?
A. Only the tariff produces revenues for the government.
B. Only the quota will cause domestic production to increase.
C. Only the quota will cause domestic prices paid by consumers to increase.
D. Only the quota will cause the quantity of imports to decrease.
A. Only the tariff produces revenues for the government.
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Ramen noodles were hotter than ever in 2010. Considered a bargain meal for cash-starved college students... in 2010, 4 billion individual packets were devoured in the United States, a 4 percent increase over 2006
If once college students graduated, they stopped eating ramen, would ramen be considered a normal or inferior good? A) inferior because students only eat ramen when income is low B) normal because students only eat ramen when income is low C) inferior because students only eat ramen when income is high D) normal because students only eat ramen when income is high
Other things the same, if a country raises its saving rate, when is productivity growth higher?
a. as the economy moves toward the long run and in the long run. b. as the economy moves toward the long run, but not in the long run. c. in the long run, but not as the economy moves toward the long run. d. neither as the economy moves toward the long run, nor in the long run.