"New industries should be protected from older established foreign competitors until they are mature enough to compete on an equal basis." This argument for trade restrictions is called the __________ argument
A) low-foreign-wages
B) foreign export-subsidies
C) anti-dumping
D) infant-industry
D
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Which of the following would be most likely to induce Congress and the president to conduct contractionary fiscal policy? A significant
A) increase in labor productivity. B) decrease in oil prices. C) increase in inflation. D) decrease in real GDP.
When the Treasury borrows from the non-bank public and makes an expenditure of an equal amount, the money supply
A) rises by a multiple of the expenditure. B) rises by an amount equal to the expenditure. C) rises by an amount less than the expenditure. D) is unaffected.
The term "depreciation" in the national income accounts refers to
a. the adjustment of GDP for inflation. b. plant and equipment "used up" in producing current output. c. citizenship differences among income recipients. d. government transfer payments minus tax revenues.
In the special case of the 100 percent-reserve banking, the money multiplier is
a. 1 and banks create money. b. 1 and banks do not create money. c. 2 and banks create money d. 2 and banks do not create money.