A quota is the same as a voluntary export restraint
Indicate whether the statement is true or false
FALSE
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Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
As a candidate for president of the United States, Barak Obama was an ardent supporter of outsourcing
Indicate whether the statement is true or false
If there are no profits in competitive equilibrium, why do firms produce? How can they stay in business?
What will be an ideal response?
Fiscal policy is government action to influence aggregate demand and in turn to influence the level of real GDP and the price level, through:
a. expanding and contracting the money supply. b. regulation of net exports. c. changes in government spending and/or tax revenues. d. encouraging businesses to invest.