The problem of inconsistent standards across nations can be managed by:
A. consumers making voluntary purchasing decisions.
B. policymakers making blanket standards imposed on all imports.
C. policymakers making explicit laws about imports for specific countries.
D. All of these are true.
Answer: D
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Compared to an open economy without a tariff, the amount of imported sugar will drop from ________ tons to ________ tons after the tariff is imposed. 
A. 80; 40 B. 60; 30 C. 40; 20 D. 20; 10
If your MPC is 0.5, then when your disposable income increases by $100, your consumption expenditure increases by
A) $200. B) $100. C) $95. D) $50. E) $5.
The primary purpose of economic regulation of an industry is to
A) control the prices charged by the regulated industry. B) increase taxes across the board. C) reduce output. D) control hiring and firing within the industry.
An example of cyclical unemployment is a(n):
A. textile worker permanently laid off due to job lost to imports. B. autoworker who is temporarily laid off due to a decline in demand for cars. C. engineer permanently laid off due to advances in technology. D. computer programmer who leaves one job and accepts a new job.