If a nation restricts imports, it will:
A. harm each individual citizen in that nation.
B. decrease the total value of goods and services produced in that nation.
C. benefit each individual citizen in that nation.
D. increase the total value of goods and services produced in that nation.
Answer: B
You might also like to view...
The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap. 
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary
If the expected inflation rate rises, then the short-run Phillips curve ________ and the long-run Phillips curve ________
A) does not shift; shifts B) does not shift; does not shift C) shifts; does not shift D) shifts; shifts E) might shift; shifts only if the short-run Phillips curve shifts
Many economists believe that tax cuts increase incentives to work and invest but current U.S. tax levels do not appear to be on the downward side of the Laffer curve
a. True b. False Indicate whether the statement is true or false