Protectionist policies often seek to shield domestic producers and domestic workers from ________ competition.
a. foreign
b. local
c. domestic
d. unfair
a. foreign
Protectionist policies often seek to shield domestic producers and domestic workers from foreign competition.
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In response to the global recession of 2008 and 2009, governments around the world
A. Reduced public works spending. B. Expanded public works spending and income transfer programs. C. Expanded income transfer programs but reduced public spending programs. D. Reduced income transfer programs.
Economic growth can be pictured in a production possibilities curve diagram by
A. shifting the production possibilities curve in. B. moving from a point inside the production possibilities curve to a point on the curve. C. making the production possibilities curve straighter. D. shifting the production possibilities curve out.
Related to the Economics in Practice on p. 550: In the simple "Keynesian" view, the economy has a
A. set price level. B. clearly defined capacity. C. horizontal aggregate demand curve. D. downward sloping aggregate supply curve.
The graph shown best represents:
A. a missing market. B. a market for an inferior good. C. a non-binding price ceiling. D. a non-binding price floor.