If the U.S. imposes a tariff on autos to prevent the Korean imports from freely entering the U.S. market, which of the following is most likely to occur?
A. The price of autos to U.S. consumers would rise, and the demand for U.S. wheat exports would increase.
B. The price of autos to U.S. consumers would fall, and the demand for U.S. wheat exports would decrease.
C. The price of autos to U.S. consumers would fall, and the demand for U.S. wheat exports would increase.
D. The price of autos to U.S. consumers would rise, and the demand for U.S. exports would decrease.
D. The price of autos to U.S. consumers would rise, and the demand for U.S. exports would decrease.
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Which of the following is NOT a component of the incomes approach to GDP?
A) net exports B) wages and salaries C) corporate profits D) proprietors' income
Investment will increase if business taxes ____, real interest rates ____, or if business confidence ____
a. increase, increases, increases b. decrease, decrease, decreases c. increase, increases, decreases d. decrease, decrease, increases
In the table at right, the marginal product of the second worker is
A. 98
B. 38
C. 68
D. It cannot be determined
The notion of ________ is that through income redistribution, the rich sacrifice a little and the poor gain a lot.
A. Rawlsian justice B. distributional justice C. labor value D. utilitarian justice