Despite the huge increase in American exports of manufactures and the importation of primarily luxury goods in 1880–1910, the American market for American products was still largely self-sufficient
Indicate whether the statement is true or false
True
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Former Alabama Governor George Wallace ran for president several times, once as a third-party candidate in 1968. Wallace claimed there was "not a dime's worth of difference" between the Democratic and Republican parties during one of his campaig
How does Wallace's comment relate to the median voter theorem?
The marginal propensity to consume:
A. is the amount by which consumption increases when after-tax income increases by $1. B. is closely linked to the multiplier effect of government spending. C. is a value between 0 and 1. D. All of these are true.
What organization emerged from the GATT, starting January 1, 1995, with expanded responsibilities and global interaction?
a. the Doha round b. the World Trade Organization c. the United Nations d. the Institute for International Economics
Refer to the accompanying figure, which shows the annual domestic supply and annual domestic demand for jeans in a small country.
Suppose this country initially does not trade with the rest of the world. If the world price of a pair of jeans is $40, and this country opens itself to trade, then the annual domestic production of jeans will:
A. increase from 20,000 to 28,000. B. fall from 20,000 to 4,000. C. fall from 28,000 to 4,000. D. increase from 4,000 to 28,000.