Research studies indicate that:
A. U.S. producers gain more from tariffs than U.S. consumers lose.
B. the costs of trade restrictions are proportionately higher for high-income groups than for
low-income groups.
C. the revenue from tariffs equals the total cost that tariffs impose on consumers.
D. U.S. consumers lose more from tariffs than U.S. producers gain.
D. U.S. consumers lose more from tariffs than U.S. producers gain.
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If the expansionary effect of additional government expenditure ________ the contractionary effect of the fall in private investment, the labor demand curve ________
A) equals; will remain at its initial position B) exceeds; will shift to the left C) equals; will shift to the right D) exceeds; will remain unchanged
Monetarists assume that people form their expectations only by
a. looking forwards b. looking backwards. c. using all available information. d. using publicly available forecasts.
The leading example of sampling schemes in econometrics that do not result in independent observations is
A) cross-sectional data. B) experimental data. C) the Current Population Survey. D) when the data are sampled over time for the same entity.
Which of the following is a true statement regarding why the government produces public goods?
a. Public goods are valued highly by some but not by the majority. b. Because of the electoral system, the public sector tends towards producing those goods that help politicians get elected. c. Some goods should be produced whether they are economically efficient or not. d. Because it is difficult to exclude those who do not pay for public goods.