The national defense argument for trade protectionism holds that
A) what is good for business is good for the country.
B) what is good for consumers is good for the country.
C) consumers' surplus rises by more than producers' surplus falls.
D) producers' surplus rises by more than consumers' surplus falls.
E) none of the above
E
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All of the following are regulatory agencies EXCEPT
A) the National Rifle Association. B) the Environmental Protection Agency. C) the Food and Drug Administration. D) the Occupational Safety and Health Administration.
A firm's opportunity costs of using resources provided by the firm's owners are called
a. sunk costs b. fixed costs c. explicit costs d. implicit costs e. entrepreneurial costs
Border enforcement if effective would raise the number of illegal immigrants into the United States
a. True b. False Indicate whether the statement is true or false
Exhibit 14-5 Aggregate demand curves
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In Exhibit 14-5, which one of the following could cause the U.S. aggregate demand curve to move from AD3 to AD2?
A. greater resource availability B. nonfluctuating resource availability C. a recession in Japan D. an increase in government grants for AIDS awareness programs