Protectionist policies are designed to help domestic producers by making imported goods more costly or difficult to obtain
Indicate whether the statement is true or false
TRUE
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The aggregate supply curve (short run) is upward-sloping because ________.
A. wages and other resource prices are flexible upward but inflexible downward B. the price level is flexible upward but inflexible downward C. wages and other resource prices match changes in the price level D. per-unit production costs rise as the economy moves toward and beyond its full-employment real output
Suppose that with a strictly enforced rent ceiling on rooms of $550 a month, a black market develops. How high could the black market rent be and would the on-campus housing market be fair? Explain your answer
What will be an ideal response?
What could explain why South Korea's gross domestic product (GDP) per capita increased so much faster since the 1970s than North Korea's GDP per capita?
What will be an ideal response?
Over the years, teachers' salaries in the U.S. have ________ with inflation and ________ relative to the salaries of equally credentialed occupations.
A. decreased; decreased B. decreased; increased C. increased; increased D. increased; decreased