A restriction on imports is likely to reduce further restrictions on trade.
Answer the following statement true (T) or false (F)
False
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A currency depreciation
a. reduces aggregate demand and increases aggregate supply. b. reduces aggregate demand and aggregate supply. c. increases aggregate demand and reduces aggregate supply. d. increases aggregate demand and aggregate supply.
According to behavioral economics, cognitive biases:
A. create errors in decision making, but these errors are random and follow no particular pattern. B. occur but are not prevalent enough to distort the behavioral predictions of neoclassical economics. C. are misunderstandings or misperceptions that cause systematic error. D. are solely the result of faulty heuristics.
The recent merger of Southwest Bell (SBC) and AT&T companies is an example of a
A) horizontal merger. B) vertical merger. C) consolidation merger. D) cooperative merger.
In which way are tariffs different from quotas?
A) They reduce the volume of imported products. B) They raise the price of the imported products to consumers. C) They increase the domestic quantity supplied of the product. D) They raise government revenue.