Eliminating trade barriers does all of the following except
A) increases economic efficiency.
B) lowers the average standard of living in a country.
C) lowers domestic prices.
D) All of the above occur when trade barriers are eliminated.
Answer: B
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When a government has a budget surplus, the surplus
A) helps finance investment. B) crowds-out private saving. C) must be subtracted from private saving to get total saving. D) increases the world real interest rate.
Contemporary observers of slavery such as Cassius M. Clay and Frederick Law Olmstead suggested that:
a. slave labor was much less productive than white labor. b. slave labor was much more productive than white labor. c. slave labor and white labor were equally productive. d. slave labor in the agricultural setting was more productive than slave labor in the manufacturing setting.
The unemployment that results from the process of matching workers and jobs is called structural unemployment
a. True b. False Indicate whether the statement is true or false
The crowding-out effect works through interest rates to:
A. decrease the effectiveness of contractionary fiscal policy. B. decrease the effectiveness of expansionary fiscal policy. C. increase the effectiveness of expansionary fiscal policy. D. increase the effectiveness of contractionary fiscal policy.