Every president who has held office since the General Agreement on Tariffs and Trade was signed has
A. argued for free-trade policies, but only Kennedy and Carter successfully resisted all calls for protection from various sectors of the economy.
B. argued for free-trade policies, yet each one has used his powers to protect various sectors of the economy.
C. argued for free-trade policies, but only Eisenhower and Reagan successfully resisted all calls for protection from various sectors of the economy.
D. argued that certain domestic industries deserve protection, yet each one has been reluctant to use his powers to protect individual sectors of the economy.
Answer: B
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An economic variable that is measured per unit of time, such as spending per year, is known as a: a. stock variable
b. periodic variable. c. dummy variable. d. flow variable. e. controlled variable.
The Bureau of Labor Statistics periodically updates the base year in the CPI because
a. nominal GDP changes over time b. of changes in the importance of goods in the consumer basket c. real GDP changes over time d. the GDP deflator is periodically updated e. prices change over time
Efficiency wages are above-market wages that are paid to workers to keep them productive.
Answer the following statement true (T) or false (F)
Refer to the graph above. Which of the following would shift the investment demand curve from ID 2 to ID 1 ?
A. Rising real interest rates
B. Increasing business taxes
C. Lower acquisition cost of capital goods
D. Higher expected rates of return on investment