One important unintended consequence of the Smoot-Hawley Tariff Act was to:
a. lessen the severity of the Great Depression by increasing exports.
b. provide the federal government with an effective tool for exercising monetary policy.
c. decrease the efficiency of domestic automobile production.
d. cause other countries to retaliate and thus leading to a decline in exports.
e. increase the U.S. government budget deficit by $15 million.
d
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"A country's expenditure multiplier is constant over time." Explain whether the previous statement is correct or incorrect
What will be an ideal response?
Some parents struggling with back-to-school buys. "A couple of years ago, I was able to buy everything practically new," said Charles Lane-Bey, a U.S. Postal Service worker who's struggling to make ends meet
Suppose Charles has $10 to spend on back-to-school clothing for his son, and pants cost 50 cents and shirts cost $1. Which of the following combinations of pants and shirts is affordable? A) 10 pants and 6 shirts B) 7 pants and 7 shirts C) 3 pants and 8 shirts D) 6 pants and 2 shirts
The interest rate is determined by
a. the supply and demand of loanable funds. b. the supply and demand of land. c. the supply and demand of marginal land. d. None of the above is correct.
Say a consumer is choosing between red wine and white wine. The price of red wine is 20 and the price of white wine is 10. If the marginal rate of substitution is 1, and if red wine is on the horizontal axis then the consumer is purchasing:
A. More than what her income would allow B. Too much white wine C. Just the right amount of both goods D. Too much red wine