The proposal that trade agreements should include a system which monitors worker conditions and make the results available to consumers in the rich importing country
A) is consistent with the Invisible Hand paradigm.
B) is consistent with the market failure approach.
C) is consistent with the Ricardian theory of comparative advantage.
D) is consistent with the scale economies approach to trade theory.
E) is consistent with the principles laid out by the WTO.
B
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An increase in the rate of economic growth curve could be caused by all of the following except
A. a national tax that encourages all employers to provide more training and education for employees which leads to an across-the-board upgrade of the skill level of the nation's workforce. B. a movement along the production possibilities curve so that the society produces more consumer goods and less capital goods. C. an increase in immigration that increases the country's labor force by 20 percent. D. an increase in research and development spending for space technology that improves the quality of the nation's capital stock.
Interest rates and investment move in the same direction when demand shifts toward ________-lived equipment, producing a ________ shift in the IS curve
A) shorter, leftward B) shorter, rightward C) longer, leftward D) longer, rightward
Figure 16-2
Suppose that Figure 16-2 shows the effects of reducing the budget deficit by raising taxes. If authorities do not want real GDP to fall, monetary policy must
a.
become sufficiently more expansionary to restore the aggregate demand curve to D0D0.
b.
contract aggregate demand to be consistent with deficit-reducing fiscal policy.
c.
not lower interest rates and thwart the goal of a balanced budget.
d.
become more contractionary to lower the interest rate and spur investment.
"To each according to what he or she produces" describes the ________ theory of income determination
A) productivity B) egalitarian C) equity D) needs