Generally speaking, protection from foreign competition benefits:
a. both domestic producers and foreign producers.
b. both domestic consumers and foreign consumers
c. domestic consumers and foreign consumers.
d. neither domestic producers nor foreign producers.
e. domestic producers at the expense of domestic consumers.
e
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Of the 2.2 million working farms in the U.S., _________ of them produce more than $5,000 worth of agricultural products.
A. one quarter B. half C. three quarters D. one third
The inverse supply curve of coffee beans equals P = -5 - 2rain + Qs, where rain equals the number of inches of rain per year. How much does quantity supplied change when rain increases from 30 inches to 40 inches per year?
A) Qs decreases by 40. B) Qs increases by 40. C) Qs increases by 30. D) Qs decreases by 30.
The price of one currency in terms of another is called
A. a currency band. B. the exchange rate. C. the terms of trade. D. purchasing power parity.
Central bankers with a relatively flat monetary policy reaction curve will:
A. move interest rates more aggressively when inflation rises, leading to less volatility in output. B. move interest rates more aggressively when inflation rises, leading to more volatility in output. C. move interest rates less aggressively when inflation rises, leading to more volatility in output. D. move interest rates less aggressively when inflation rises, leading to less volatility in output.