To stop a speculative attack interest rates must be ________, which will ________ aggregate demand.
A. decreased; decrease
B. increased; increase
C. decreased; increase
D. increased; decrease
Answer: D
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In the early 1950s the two new factors that stimulated the United States' economy were ___________ and ____________.
Fill in the blank(s) with the appropriate word(s).
If a perfectly competitive firm's total revenue is less than its total variable cost, the firm
A) should continue to produce and increase its demand. B) should stop production by shutting down temporarily. C) should raise its price above its average variable cost. D) should adopt new technology in order to lower its costs of production.
If country X has a higher capital per person than country Y, then ________
A) country X is richer than country Y B) the only way for country X to be richer than country Y is if X is just as productive (has the same TFP) as Y C) the only way for country Y to be richer than country X is if Y is more productive (has a higher TFP) than X D) the only way for country X to be richer than country Y is if X is less productive (has a lower TFP) than Y E) none of the above
The above figure shows the market for rice in Japan. SDomestic represents the domestic supply curve, and Sworld represents the world supply curve. A $1 per unit tariff has the same effect on producer and consumer surplus as a quota of
A) 25 units. B) 30 units. C) 35 units. D) 65 units.