Imports into the U.S. increased when
(a) deflation in the U.S. occurred.
(b) real wages and incomes rose in the U.S.
(c) the International Trade Commission was established.
(d) all of the above occurred.
(b)
You might also like to view...
If the money wage rate and other resource prices do not change when the price level rises by 10 percent, ________
A) the long-run aggregate supply curve shifts leftward B) the short-run aggregate supply curve shifts leftward C) the long-run aggregate supply curve shifts rightward D) there is movement along the short-run aggregate supply curve
Hyperinflation typically ________
A) describes periods of extreme price increases of over 50% per month or 1,000% per year B) is a result of extreme periods of money growth that tend to come from large fiscal imbalances C) affects both poor and developed economies D) all of the above E) none of the above
Refer to the above figure. At a price of three cents, a(n) ________ of bubble gum will exist in the market
A) surplus B) shortage C) equilibrium quantity D) excess quantity supplied
If there is a deliberate change in taxes and spending, it is called
A) a recessionary gap. B) an inflationary gap. C) discretionary fiscal policy. D) discretionary monetary policy.