The escape clause in U.S. trade law:
a. enables the United States to withdraw from NAFTA.
b. permits the U.S. government to impose trade barriers if fairly traded imports are the cause of significant injury to a U.S. industry and its workers.
c. permits the government to impose trade remedies against nations that unfairly subsidize their exports to the United States.
d. enables immigrants to return to their home countries.
Ans: c. permits the government to impose trade remedies against nations that unfairly subsidize their exports to the United States.
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The "currency" of the IMF is the
A) International Currency Unit. B) Special Drawing Right. C) U.S. dollar. D) IMF Dollar.
The above figure shows the market for pizza. Which figure shows the effect of a new report by the U.S. Surgeon General that eating pizza lowers cholesterol levels, an outcome many people want?
A) Figure A B) Figure B C) Figure C D) Figure D
An increase in the price level will: a. increase the quantity of RGDP supplied, but not increase short-run aggregate supply. b. decrease the quantity of RGDP supplied, but not decrease short-run aggregate supply. c. increase short-run aggregate supply
d. decrease short-run aggregate supply.
In most societies, dollar price acts as the main rationing device. If dollar price weren't the main rationing device, would there still be a need for some rationing device to take its place?
A) No, because with dollar price there would be no scarcity, although shortages would still exist. B) Yes, because there is a need for a rationing device as long as scarcity exists. C) Yes, because there is a need for a rationing device as long as the world's population is so large. D) No, because dollar price creates scarcity and without money price scarcity wouldn't exist. E) none of the above