Most economists _________ tariffs and _________ quotas.
A. favor; favor
B. oppose; oppose
C. favor; oppose
D. oppose; favor
B. oppose; oppose
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If the utilization rates of capital and labor are procyclical, then
A) output will rise in recessions and decline in expansions. B) measured productivity will be constant. C) the Solow residual will be procyclical. D) prices will be countercyclical.
When any effort by government causes the supply of a good to rise, what happens to the supply curve for that good?
(A) The supply curve is not affected. (B) It shifts to the right. (C) It shifts to the left. (D) It reverses direction.
When the Fed buys federal government securities on the open market from commercial banks, over time, the:
A. assets of these banks fall. B. liabilities of the bank fall. C. assets of the banks rise. D. liabilities of the bank rise.
The asset demand for money is related to which function of money?
A. store of value B. unit of accounting C. standard of deferred payment D. medium of exchange