What do Baack and Ray (1983) find in their survey of U.S. tariff history?
(a) Tariff rates in the U.S. were low.
(b) Tariff cuts were associated with the fast-growing industries.
(c) The highest tariff rates in the U.S. were associated with the fastest growing industries.
(d) The U.S. was a world leader in free trade policy.
(b)
You might also like to view...
When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
During the 2007-2009 financial crisis, many households found themselves with debts to repay. How might this explain the consumer response to the 2008 Tax Rebate?
What will be an ideal response?
________________ is defined as the application of the scientific method and materials to achieve objectives. Another definition is knowledge systematically applied to useful purposes
a. History b. The 4C Concept c. Technology d. Engineering
The situation in which the marginal product of labor is greater than zero and declining as more labor is hired is called the law of:
a. negative response. b. inverse return to labor. c. diminishing returns. d. demand.