All of the following are international (as opposed to domestic) policy goals for the United States except:
A. a balance of trade.
B. an increase in exports relative to imports.
C. a strong dollar.
D. low inflation.
Answer: D
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Refer to the figure above. What is the equilibrium employment if the labor demand curve is LD1 and the labor supply curve is LS1?
A) 5 units B) 20 units C) 15 units D) 10 units
According to this Application, economist John Taylor believes that if the Fed had not followed "easy money" policy during the early 2000s,
A) housing starts would have declined quicker, accelerating the timing and severity of the housing bust. B) housing starts would have been much higher and the housing boom would have continued. C) housing starts would have been much lower and the housing boom and bust would have been avoided. D) housing starts would have stabilized, leading to a mild housing boom with no bust.
All of the following are examples of negative externalities except
a. getting the flu vaccine. b. smoking in a crowded bar. c. driving while intoxicated. d. littering in the park. e. pouring paint down the storm drains.
Dumping refers to the practice of
a. flooding a foreign market with large quantities of a good. b. selling a product abroad at a price below cost or below the domestic price. c. exporting inexpensive products to foreign countries. d. selling surplus goods abroad with counterfeit brand names.