The best way to address differences in labor and environmental standards is through trade barriers
Indicate whether the statement is true or false
FALSE
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When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
China is one of the world's largest exporters. As the world's economies slipped into a worldwide recession in 2008, there was a ________ China's aggregate demand curve as China's exports ________
A) rightward shift of; decreased B) movement upward along; increased C) leftward shift of; decreased D) movement upward along; decreased
Refer to Figure 3-8. The graph in this figure illustrates an initial competitive equilibrium in the market for apples at the intersection of D2 and S1 (point C). Which of the following changes would cause the equilibrium to change to point B?
A) a positive change in the technology used to produce apples and decrease in the price of oranges, a substitute for apples B) an increase in the wages of apple workers and an increase in the price of oranges, a substitute for apples C) an increase in the number of apple producers and a decrease in the number of apple trees as a result of disease D) a decrease in the wages of apple workers and an increase in the price of oranges, a substitute for apples
Which of the following would not be considered a cause of poverty?
a. lack of proficiency in English b. a college education c. bad luck d. gender discrimination