In July 2018 President Trump acted on recommendations from the Commerce Department and imposed 25 percent tariffs on 818 Chinese products exported to the United States in retaliation for the Chinese government's
A. nationalization of U.S. firms located in China.
B. unfair policies and practices toward U.S. intellectual property such as patents, copyrights, and trade secrets.
C. direct foreign investment in the United States.
D. support of North Korea's nuclear weapons program.
Answer: B
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Discretionary fiscal policy is:
A. fiscal policy that the government actively chooses to adopt. B. taxes and government spending that affect fiscal policy without specific action from policymakers. C. fiscal policy that the government enacts only for a short period of time. D. taxes and government spending that the government actively votes against adoption.
All of the following statements apply to a purely competitive market in the long run, except:
A. In the long run, all inputs are variable in quantity B. Firms can expand their plant capacities in the long run C. Total fixed costs remain constant even when output expands in the long run D. Firms may enter or leave the industry in the long run
Once international trade occurs, a country with a comparative advantage in the production of a good will ________ production of the good and ________
A) decrease; import the good B) increase; export the good C) not change; import the good D) increase; import the good E) decrease; export the good
Conspicuous consumption as an ability signal
A. completely different from a prisoner's dilemma. B. characterized by lower levels of consumption. C. is more effective if the positional goods nature of consumption causes everyone to consume elaborately. D. will likely continue even if it is wasteful for all involved.