In the past twenty years or so, all major U.S. trade legislation has typically included all of the following except
A) negotiating authority for the President to try to achieve new trade agreements.
B) new U.S. trade barriers in the form of dumping or countervailing duty laws.
C) new U.S. trade barriers in the form of uniformly higher tariffs on all goods.
D) expanded laws calling on the President and USTR to investigate and challenge unfair trading practices of foreign countries.
C
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Suppose the Federal Reserve's short-run response to any change in the economy is to change the money supply to maintain the existing real interest rate
What would happen to money supply if there were a reduction in government purchases? Given the Fed's policy, what would happen in the very short run (before general equilibrium is restored) to output and the real interest rate? What must happen to the LM curve and the price level to restore general equilibrium?
Refer to Scenario 1. Immediately following Sheila's $100,000 deposit into her checking account, Perez Bank
A) has no excess reserves. B) has $10,000 in excess reserves. C) has $90,000 in excess reserves. D) has $100,000 in excess reserves.
On a graph showing the influence of automatic stabilizers on the economy, government expenditures on transfer payments and real GDP have a(n):
A. direct relationship as shown by an upward-sloping line. B. direct relationship as shown by a downward-sloping line. C. inverse relationship as shown by an upward-sloping line. D. inverse relationship as shown by a downward-sloping line.
Viewed from the perspective of a U.S. beef farmer, gasoline price variability can be viewed as a source of
A. demand and supply variability, because an increase in gasoline costs drive up corn costs and corn is what farmers feed their cattle. B. demand variability, because an increase in gasoline costs drive up corn costs and corn is what farmers feed their cattle. C. static variability. D. supply variability, because an increase in gasoline costs drive up corn costs and corn is what farmers feed their cattle.