The contention that domestic unions tend to want to restrict foreign competition with tariffs is
A) a national defense concern.
B) the infant industry argument.
C) dumping.
D) to protect domestic jobs.
D
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Under the Bretton Woods system, the World Trade Organization (WTO) provided foreign currency loans to central banks and approved adjustments to the agreed upon fixed exchange rates
Indicate whether the statement is true or false
A decrease in demand leads to a (an):
a. increased equilibrium price and an increased equilibrium quantity. b. decreased equilibrium price and a decreased equilibrium quantity. c. decreased equilibrium price and an increased equilibrium quantity. d. increased equilibrium price and a decreased equilibrium quantity.
Under a progressive tax, the fraction of income paid in taxes
a. rises as income rises. b. is unchanged as income changes. c. falls as income rises. d. is proportional to the change in income.
Market participants are likely to save a portion of current income if they
A. Believe that banks might fail. B. Place a higher value on current consumption than on future consumption. C. Place a higher value on future consumption than on current consumption. D. Believe that money will lose much of its value in the future. In deciding to save rather than spend, people effectively reallocate their spending over time. That is, people save now in order to spend more in the future.