Protectionism is used for all of the following reasons except _____.
(A) Keeping out immigrants.
(B) Keeping jobs.
(C) Taking care of an infant industry.
(D) Safeguarding national security.
Ans: (A) Keeping out immigrants.
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The existence of differences between the average earnings of men and women: a. proves the existence of discrimination
b. may be partially due to factors other than wage discrimination. c. proves that men on average invest more in human capital than do women. d. indicates that men are on average smarter than women are.
An issue that generates substantial benefits to a small group of individuals while imposing a small cost on many others is called a
a. special-interest issue. b. minority application. c. commons policy. d. national service.
A decrease in marginal tax rates will cause entrepreneurship to ________ and AS to shift to the ________.
A. decrease; right B. increase; left C. decrease; left D. increase; right
If the MPC is .6, and investment spending falls by $50 billion, GDP will fall by $___ billion.
A. 30 B. 50 C. 100 D. 125