Everything else held constant, if aggregate output is to the ________ of the LM curve, then there is an excess supply of money which will cause the interest rate to ________
A) right; fall
B) right; rise
C) left; fall
D) left; rise
C
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During the 1980s, Harley-Davidson, the American motorcycle maker, asked Congress for tariff protection from large motorcycles imported from Japan
Harley-Davidson argued that their company needed protection so the company could reorganize and, after some time had passed, could become more competitive. Harley-Davidson's argument is similar to the ________ argument for protection. A) save domestic jobs B) national security C) anti-dumping D) infant-industry E) bring diversity and stability
Today's industrialized economies
a. have always specialized in capital intensive production b. have always specialized in heavy industry c. began their industrialization in labor intensive production d. began their industrialization in heavy industry then moved into light industry e. none of the above
In a market with positive externalities
A) the efficient level of production is less than what competition will obtain. B) the efficient level of production is equal to what competition will obtain. C) the efficient level of production is more than what competition will obtain. D) there cannot be an efficient level of production.
Appreciation is the term used to describe
a. the conversion of one currency into another currency in the free market b. a reduction in the official value of a currency. c. the upward movement of currencies in a free market. d. an increase in the official value of a currency.