The ________ argument was formulated as a rationale for protecting emerging domestic industries from foreign competition
a. antidumping
b. infant industry
c. job and income
d. declining industries
b
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Which of the following is true?
a. Real federal spending per person was approximately 50 times higher in 1900 than 1800. b. Real federal spending per person was approximately 80 times higher in 2012 than 1916. c. Real federal spending per person grew slowly under the Reagan Administration during the 1980s, but it increased rapidly under the Clinton administration in the 1990s. d. In recent years, government expenditures at the state and local levels have been greater than government spending at the federal level.
Which of the following is an interest rate effect that would most likely cause a decrease in the quantity of real GDP demanded in the nation, ceteris paribus?
a. The overall price level falls in Canada, which increases interest rates and increases investment spending. b. The overall price level rises in Finland, which increases interest rates and reduces investment spending. c. The overall price level falls in India, which decreases interest rates, and discourages investment spending. d. The overall price level rises in Brazil, which decreases interest rates and encourages investment spending.
The demand curve a monopolist faces is
A) horizontal. B) the industry demand curve. C) vertical. D) inelastic at all points.
What do economists call the situation where a hired manager does not have the same interests as the owners of the business?
A) conquest and control B) a financial problem C) a principal-agent problem D) a financial intermediary problem