Which of the following is an effect of tariffs on domestic employment?
a. Tariffs raise employment in the economy overall.
b. Tariffs reduce unemployment in the affected industry.
c. Tariffs raise unemployment in the affected industry.
d. Tariffs have no impact on domestic employment.
b. Tariffs reduce unemployment in the affected industry.
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If the exchange rate changes from $2.00 = 1 euro to $1.98 = 1 euro then
A) the dollar has appreciated. B) the euro has appreciated. C) the euro has stayed constant in value. D) the dollar has depreciated.
If Joshua buys 10 percent more compact discs when his income increases by 5 percent, then, for Joshua
a. price elasticity of demand for compact discs is greater than one b. compact discs are inferior goods c. compact discs are price inelastic d. compact discs are income inelastic e. compact discs are income elastic
Taxes are the only mechanism by which the federal government earns money.
Answer the following statement true (T) or false (F)
The implementation lag of monetary policy is longer than that of fiscal policy because Congress can act more quickly then the Fed.
Answer the following statement true (T) or false (F)