The Fed:
a. has little control over the money supply.
b. serves as the central bank for the United States.
c. often uses a mix of lower taxes in its fiscal policy.
d. ensures commercial bank profitability.
b
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If a tariff is imposed on imports of shrimp into the United States, U.S. consumer surplus from shrimp will ________ and U.S. total surplus from shrimp will ________
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease E) increase; not change
Which economist introduced the simple trade model and the concept of trade based on comparative advantage?
What will be an ideal response?
Everything else held constant, if a factor increases the demand for ________ goods relative to ________ goods, the domestic currency will appreciate
A) foreign; domestic B) foreign; foreign C) domestic; domestic D) domestic; foreign
The crux of the problem of pollution is
A) a poorly run Environmental Protection Agency. B) greed on the part of consumers. C) greed on the part of producers. D) poorly defined property rights are expensive to enforce.