If higher tariffs and more restrictive quotas reduced the imports of the United States,

A) unemployment in the United States would decline.
B) U.S. exports would also increase because foreigners would want to buy more from U.S. producers.
C) U.S. exports would decline because foreigners would be earning fewer of the dollars needed to purchase goods and services from Americans.
D) U.S. employment would increase.


C) U.S. exports would decline because foreigners would be earning fewer of the dollars needed to purchase goods and services from Americans.

Economics

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Monetarists argue that the Federal Reserve should allow the money supply to grow:

a. counter to the business cycles. b. faster than 10 percent annually. c. only during recessions. d. at a constant rate.

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The Sherman Antitrust Act of 1890 prohibits:

a. monopolization. b. perfect competition. c. oligopoly. d. monopolistic competition.

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The monopolist's outcome happens at a:

A. cost that is equal to a perfectly competitive one. B. lower price than the perfectly competitive one. C. lower quantity than the perfectly competitive one. D. higher quantity than the perfectly competitive one.

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Long-run equilibrium for a monopolistic competitor is characterized by

A) a price exceeding marginal cost. B) marginal cost pricing. C) economic profits. D) too few firms in the industry.

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