Company Z is a U.S. company that has just entered the market for a given good and is the first in this country to produce that good. The good is already being produced in many foreign countries is exported to the United States. If company Z wants to restrict this foreign competition, it will most likely use which of the following arguments?
A) anti-dumping
B) national-defense
C) job-creation
D) infant-industry
E) low-foreign-wages
D
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According to the Application, the argument that the broken window is good for society
A) works in the Keynesian world when the economy is operating below full employment. B) never works in the Keynesian or classical worlds regardless of where the economy is operating relative to full employment. C) works in the classical world when the economy is operating at full employment. D) works in both the Keynesian and classical worlds regardless of where the economy is operating relative to full employment.
Which of the following will increase interest rates in the short run?
What will be an ideal response?
If people expect prices to fall in the future,
A. their consumption function in the present will shift downward. B. their consumption function in the present will shift upward. C. they will decrease their current levels of consumption by moving down along their consumption functions. D. they will increase their current levels of consumption by moving up along their consumption functions.
Protective tariffs will tend to shift:
A. Supply toward foreign products B. Demand toward foreign products C. Demand toward domestic products D. Have no effect on demand or supply