Protectionist policies often seek to shield domestic producers and domestic workers from ________ competition.
a. foreign
b. local
c. domestic
d. unfair
a. foreign
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In the New Keynesian open economy model, if the exchange rate is fixed
A) fiscal policy and monetary policy are powerless. B) fiscal policy is an effective stabilization tool. C) a change in current total factor productivity increases output. D) monetary policy is an effective stabilization tool.
A risk-preferring person is willing to pay
A) a risk premium. B) a fee to make a fair bet. C) to obtain decreasing marginal utility. D) None of the above.
What has been the impact of the widespread adoption of automated teller machines (ATMs) on the demand for bank tellers?
A) The demand for tellers has increased. B) The demand for bank tellers has become more inelastic. C) The demand for bank tellers has become more elastic. D) There has been no change because the ATMs and the employees provide completely different services.
What is an agency relationship? What are agency problems?
What will be an ideal response?