The "Buy American" provision in the 2009 stimulus package required that stimulus money be spent only on U.S.-made goods, effectively acting as a quota of zero imports when stimulus money was being spent
The "Buy American" provision would ________ consumer surplus and ________ producer surplus for industries that produced protected products in the United States.
A) decrease; increase B) decrease; decrease C) increase; increase D) increase; decrease
A
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In the long run, each perfectly competitive firm produces at the lowest point on
a. its short-run average total cost curve b. its long-run average total cost curve c. its marginal cost curve d. both its short-run and long-run average total cost curves e. both its short-run average cost curve and its marginal cost curve
Cautious banks may choose to hold excess reserves instead of lending them
Indicate whether the statement is true or false
Since 1997, the labor force participation rate for women in the United States has:
A. remained virtually constant. B. increased more than 10 percent. C. decreased more than 20 percent. D. equaled the participation rate for men.
Suppose that opportunity costs are constant and that Fred can either bake a maximum of six pies or three cakes in a day. Ethel can either produce a maximum of eight pies or two cakes in a day. Ethel's opportunity cost to produce one cake is
A) one-half pie. B) two pies. C) six pies. D) four pies.