If the United States were to impose 100 percent tariffs on imports of Chinese shrimp, what would most economists conclude?
A. This decision can be justified by using the national defense argument.
B. This decision can be justified by using the infant-industry argument.
C. This decision is not justified in terms of economic well-being but may make sense for political reasons.
D. This policy is a way to keep foreign producers from being exploited by Americans.
Answer: C
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The above (incomplete) table provides information about the relationships between output and various cost measures. The marginal cost per unit when increasing output from 14 to 17 units is
A) $20. B) $30. C) $380. D) None of the above answers is correct.
Robert Lucas spurred the rational expectations revolution in ________
A) the 1960s B) the 1970s C) the 2000s D) the 1880s
The concept of progressive, proportional, and regressive taxation is positive in nature
a. True b. False
Personal income taxes
a. make recessions and inflationary episodes more severe b. make recessions and inflationary episodes less severe c. make recessions more severe and inflationary episodes less severe d. make recessions less severe and inflationary episodes more severe e. have no effect on the severity of recessions and inflationary episodes