In the 1980s, the U.S. government forced Japanese automakers to limit their exports to the United States. The union representing the autoworkers (UAW), argued that otherwise the U.S. auto industry would have contracted
The UAW's argument is the ________ argument for protection. A) save domestic jobs
B) national security
C) anti-dumping
D) infant-industry
E) bringing diversity and stability
A
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Which of the following will cause a rightward shift of the demand curve?
A) a decrease in the cost of production B) a decrease in the price of the good C) an increase in the expected future price of the good D) all of the above
European governments accepted prolonged periods of unemployment in the 1990s in order to reduce inflation
a. True b. False Indicate whether the statement is true or false
Suppose the government used the following formula to compute a family's tax liability: Taxes owed = 28% of income - $8,000 . How much would a family have to earn to owe $0 in taxes?
a. $8,000 b. $16,283 c. $28,571 d. $30,694
Suppose one knows two facts: first, the market for prescription drugs experiences chronic shortages and second, the government sets the price for prescription drugs. One can conclude that the government has:
A. encouraged buyers to hoard prescription drugs. B. set the price too high. C. set the price above the equilibrium price. D. set the price below the equilibrium price.