Economics
Not what you're looking for?
I am stuck on the following multiple choice questions. Could someone please help? Thanks so much:)
11. A quota is
a. a tariff on exports
b. a quantitative limit on the amount of a good that may be imported
c. the same as a non-prohibitive tariff
d. the amount of exports a country needs to finance its imports
e. a per-unit cash rebate to an exporter
12. Suppose under a system of flexible exchange rates a black-and-white TV costs $150 in the U.S. and 18,600 yen in Japan. Other things being equal, the exchange rate is
a. 1 yen = $0.08
b. 8 yen = $1.00
c. 1 yen = $0.28
d. 124 yen = $1.00
e. 800 yen = $1.00
13. Economic resources or factors of production are often classified into three categories. These three are
a. air, water, and land
b. technology, capital, and labor
c. labor, capital, and land
d. land, technology, and people
14. The current Chairman of the Federal Reserve is
a. Allen Greenspan
b. N. Gregory Mankiw
c. Harvey S. Rosen
d. Ben S. Bernanke
e. Murray L. Weidnbaum
15. Our money has value because
a. it is backed by gold
b. its supply is unlimited
c. it is guaranteed by banks
d. people will accept it in payment for goods and services
e. it is the result of pubic and private debt
Purchase this Solution
Solution Preview
11. A quota is
b. a quantitative limit on the amount of a good that may be imported
12. Suppose under a system of flexible exchange rates a black-and-white TV ...
Purchase this Solution
Free BrainMass Quizzes
Economics, Basic Concepts, Demand-Supply-Equilibrium
The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.
Pricing Strategies
Discussion about various pricing techniques of profit-seeking firms.
Elementary Microeconomics
This quiz reviews the basic concept of supply and demand analysis.
Economic Issues and Concepts
This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.
Basics of Economics
Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.