The effective rate of protection is
(a) value added with protection divided by value added without protection.
(b) value added with protection.
(c) value added without protection.
(d) (value added with protection minus value added without protection) divided by value added without protection.
D
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The existence of antitrust law is one reasons economists assume that most strategic behavior in the marketplace is noncooperative
a. True b. False Indicate whether the statement is true or false
The consumption function becomes flatter if:
a. the average propensity to spend increases. b. the marginal propensity to spend increases. c. the marginal propensity to save increases. d. the autonomous consumption increases. e. the autonomous consumption decreases.
A federal budget deficit places a genuine burden on future generations when the
a. crowding-out effect is stronger than the crowding-in effect. b. crowding-in effect is stronger than the crowding-out effect. c. crowding-out and crowding-in effects work in opposite directions. d. crowding-out and crowding-in effects operate in the same direction.
An open market sale of T-bonds by the Fed causes the money supply to
a. fall and bond prices to fall. b. rise and bond prices to fall. c. rise and bond prices to rise. d. fall and bond prices to rise.