Producers of paper products are most likely to be in favor of
A. Protectionism in the paper product market but free trade in the lumber market.
B. Free trade in the paper product market and the lumber market.
C. Free trade in the paper product market but protectionism in the lumber market.
D. Protectionism in the paper product market and the lumber market.
Answer: A
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If you anticipate that the inflation rate is going to rise from three percent to 10 percent next year, you should
A) save your funds at a fixed rate of interest. B) borrow funds at a fixed rate of interest. C) keep your funds in your sock drawer. D) wait to buy a house until next year.
Economists refer to the pattern of income that people derive from different factors of production as the:
A. factor price. B. factor distribution of income. C. factor stream of income. D. expected future factor value.
Figure 10-5
In Figure 10-5, which graph best illustrates the situation of an economy reacting to a recessionary gap by reducing resource cost levels?
a.
(1)
b.
(2)
c.
(3)
d.
(4)
Which of the following is a characteristic of a currency board?
A. A currency board issues domestic currency liabilities only in exchange for foreign currency assets. B. A currency board focuses on maintaining a floating exchange rate. C. A currency board frequently carries out sterilized intervention to maintain the fixed rate. D. A currency board insulates the country from adverse foreign shocks by prescribing effective fiscal and regulatory policies.