Governments are most likely to adopt trade restrictions because
a) of nationalistic motives and prejudice against other countries
b) protectionist policies benefit society as a whole
c) tariffs are the primary source of government revenue
d) those whom trade hurts are more cohesive and vocal than those whom trade benefits
e) trade weakens the government’s ability to conduct stabilization policy
d) those whom trade hurts are more cohesive and vocal than those whom trade benefits
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Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
The unemployment rates during the last 10 years in the Eurozone was
A) constantly lower than the unemployment rate in the United States and not rising toward the U.S. unemployment rate. B) constantly lower than the unemployment rate in the United States but were rising toward the U.S. unemployment rate. C) more or less constant at 3 percent. D) generally higher than the U.S. unemployment rate. E) approximately equal to those in the United States, with some years the U.S. unemployment rate being slightly higher and in other years the U.S. unemployment rate being slightly lower.
If you buy a book of U.S. postage stamps to use to mail love letters to your sweetheart, the purchase is considered part of:
a. C. b. I. c. G. d. X. e. M.
If the money supply is $900, velocity is 6, then in the equation of exchange, PQ is
A) $150. B) $1,500. C) $2,400. D) $3,600.