Neo-mercantilism refers to an economic policy in which:
A) a country trades in manufactured goods with countries having similar per capita incomes.
B) a country focuses on producing a good more efficiently than another nation.
C) countries produce and export goods that required resources that were in great supply.
D) countries promote a combination of protectionist policies and restrictions and domestic-industry subsidies.
E) countries import goods that required resources that were in short supply.
Ans: D) countries promote a combination of protectionist policies and restrictions and domestic-industry subsidies.
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A) market-oriented emphasis B) payments systems C) central banks D) information asymmetries
The demand curve for labor slopes downward because: a. few workers are willing to work at low wages
b. capital has been substituted for labor in most industries. c. of the diminishing marginal product of labor. d. of all of the above.
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What will be an ideal response?
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