Since the 1930s, overall tariff rates in the United States have
A) increased.
B) decreased.
C) remained unchanged.
D) become very unstable, changing week to week.
B
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In the 1980s, the U.S. government forced Japanese automakers to limit their exports to the United States. The union representing the autoworkers (UAW), argued that otherwise the U.S. auto industry would have contracted
The UAW's argument is the ________ argument for protection. A) save domestic jobs B) national security C) anti-dumping D) infant-industry E) bringing diversity and stability
Assume that concerns about tap water potability increase demand for bottled water, and that the new demand (D’ ) is represented by the following: D’ = MSB’ = 7 – 0.1Q What is the new equilibrium quantity (QE’ ) and price (PE’) in the U.S. bottled water market?
Suppose that the U.S. market for bottled water is modeled as follows: S = MSC = 1 + 0.3Q D = MSB = 5 – 0.1Q, whereQ is billions of gallons per year and MSC and MSB are in dollars per gallon.
Advertising that uses celebrity endorsements is most likely intended to
a. increase elasticity of demand for the advertised product. b. reduce the ability of markets to allocate resources efficiently. c. provide a signal of product quality. d. be useful only for psychological effects.
Suppose there is a fiscal expansion in the current period. This fiscal expansion will tend to cause a smaller increase in current output when
A) an increase in current output causes an increase in expected future output. B) an increase in the current interest rate causes expectations of expansionary monetary policy in the future. C) an increase in the current interest rate causes an increase in expected future interest rates. D) both A and B E) all of the above