When tariffs on exports are eliminated, there is at least in principle a way for everyone to benefit.
Answer the following statement true (T) or false (F)
True
Rationale: Since winners in both countries gain more than losers lose, there is in principle enough of a gain to compensate the losers.
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The lag between changes in the Fed's interest rate target and large responses of output means that the Fed may want to ________ interest rates ________ output recovers to its natural level
A) raise, after B) lower, before C) raise, before D) lower, after
Workers at an automobile firm are laid off because the economy is weak and the demand for automobile has fallen. This is an example of _____
a. cyclical unemployment b. structural unemployment c. frictional unemployment d. seasonal unemployment
As labor productivity increases, which of the following shifts in the labor market should occur?
A. Supply of labor should shift to the left. B. Demand for labor should shift to the right. C. Demand for labor should shift to the left. D. Supply of labor should shift to the right.
The price of a good will tend to rise when
a. there is excess demand for the good. b. the supply of the good increases. c. demand for the good decreases. d. there is excess supply of the good.