Domestic agricultural subsidies intended to support the nation's farmers would not be considered a trade barrier so would not be disputed internationally
Indicate whether the statement is true or false
FALSE
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Important factors that change the demand for dollars and hence shift the demand curve for dollars include which of the following?
I. interest rates around the world II. the current exchange rate III. the expected future exchange rate A) I and II B) I and III C) II D) I, II, and III
The price of a barrel of oil doubled between 2007 and the middle of 2008. To make matters worse, a financial crisis hit the U.S. economy starting in August of 2007
Which of the following is an appropriate description of the mechanism that would have ensued? A) The increase in the price of oil would have immediately shifted the AS curve to the right. B) The financial crisis would have led to a sharp contraction in spending shifting the AD curve to the right. C) Shifts in both the AD and the AS curve would have ensued in the short-run but as long as neither shock had an impact on potential output, ultimately unemployment will have been unaffected in the long run. D) All of the above. E) None of the above.
At a level of real disposable income of 0, consumption is $4000. Then
A) saving equals 0. B) saving equals -$4000. C) savings equal -$4000. D) saving equals $4000.
Briefly contrast how firms in a perfectly competitive market will respond to long-run profits and losses. Include an explanation of how each response affects the price level