Trade measures are usually not the best way of addressing problems such as pollution and child labor because
A) it is more efficient to address these problems at the production and consumption level.
B) trade measures are not effective in reducing pollution.
C) the governments of high-income countries are not interested in sanctioning pollution and child labor.
D) the WTO prohibits most trade sanctions.
A
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Any factor that shifts the demand curve to the left but does not affect the supply curve will lower the equilibrium price and raise the equilibrium quantity.
Answer the following statement true (T) or false (F)
Suppose supply decreases, but there is no change in demand. As the market reaches its new equilibrium:
A. excess demand will lead the price to fall. B. excess supply will lead the price to rise. C. excess supply will lead the price to fall. D. excess demand will lead the price to rise.
People who reject all theories because they prefer to rely on experience
A) actually rely on unrecognized theories. B) don't know any theories and are trying to cover up their ignorance. C) tend to accomplish more but also to make more mistakes. D) tend to make fewer mistakes but also to accomplish less. E) value science more than theory.
A reduction in tariffs and quotas on imported goods shifts the
A. AS curve to the right. B. AS curve to the left. C. AD curve to the left. D. None of the choices are correct.