An increase in the tariff on semiconductors lowers the effective rate of protection of computer producers
Indicate whether the statement is true or false
TRUE
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If equilibrium GDP is $800 billion greater than the full employment GDP and the multiplier is 4, how much is the inflationary gap?
What will be an ideal response?
To be eligible for Medicare, an aged individual must exhaust most personal income and assets
Indicate whether the statement is true or false
An important determinant of comparative advantage is:
A. homogeneity of climate and natural resources between countries. B. endowment of factors of production. C. equal technology levels across nations. D. well established governmental regulations on trade.
Which statement is FALSE?
A. Wages are not downwardly flexible. B. The rational expectations theorists argue that there is a natural level of real GDP toward which the economy gravitates. C. The rational expectations theorists believe anti-recession policies have no effect, but admit anti-inflationary policies may be wise. D. The rational expectations theorists believe that aggregate supply is the prime economic mover.