Unions tend to want import restrictions because
A) imports are usually of inferior quality.
B) they can increase the wages for union workers by increasing the productivity of union workers when the workers aren't worried about foreign competition.
C) the restrictions also reduce the number of immigrants that can enter the country and decrease the supply of nonunion labor.
D) the restrictions decrease the demand for non-union made goods, increasing the demand for union made goods.
D
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If the real interest rate is below the equilibrium real interest rate
A) lenders will be unable to find borrowers willing to borrow all of the available funds and the real interest rate will fall. B) borrowers will be unable to borrow all of the funds they want to borrow and the real interest rate will rise. C) lenders will be unable to find borrowers willing to borrow all of the available funds and the real interest rate will rise. D) borrowers will be unable to borrow all of the funds they want to borrow and the real interest rate will fall.
Which of the following supply shocks will shift the long-run aggregate supply curve outward?
a. An increase in business taxes b. An increase in gasoline taxes c. An increase in the cost of raw materials d. An increase in the amount and cost of government regulation e. An increase in agricultural output
A country can attempt to increase its capital stock by
a. shifting resources away from capital goods toward consumer goods b. shifting resources away from human capital goods toward physical capital goods c. shifting resources away from consumer goods toward capital goods d. shifting resources away from physical capital goods toward human capital goods e. shifting resources away from consuming tomorrow toward consuming today
The first recorded example of a financial bubble was:
A. the "stock market" bubble of the 1920s. B. a "tulip mania" in the 1600s. C. called the Enclosure Movement. D. the "dot com" bubble of the 1990s.