Economics Practice Exam Questions

1. A change over quotais an unambiguous limit on the mensuration of exports of a great from a country.is an explicit limit on the beat of imports of a superb into a country.is a app paint a picture barely on exports.is a impose only on imports.2. An import tariffis an explicit limit on the amount of exports of a levelheaded from a country.is an explicit limit on the amount of imports of a good into a country.is a tax only on exports.is a tax only on imports.3. While an import tariff on a good will both raise the home(prenominal) value of that good and its municipal take levels, a quotawill not raise the domestic value provided will add the amount of the good produced domestically.will raise the domestic price but will not increase the amount of the good produced domestically.will both raise the domestic price and increase the amount of the good produced domestically.will neither raise the domestic price nor increase the amount of the good produced domestically.4. If the dollar sign bill price of the German mark increases, thenthe German musical score has appreciated while the U.S. dollar has depreciated.the German Mark has depreciated while the U.S. dollar has appreciated.both the German Mark and the U.S. dollar have depreciated.both the German Mark and the U.S. dollar have appreciated.5. An exchange rate measuresthe price at which unitary so-and-so exchange one good for another good.the price at which one can exchange one resource for another resource.the discounted price one received when returning defective goods for exchange.the price at which one can exchange one currency for another currency.6. Consider the following two statementsThe U.S. dollar will depreciate when U.S. Demand for unknown goods increases.The U.S. dollar will depreciate in the save if the public believes that the U.S. dollar will depreciate in the future.both statements are true.both statements are false.I is true while II is false.I is false while II is true.