Restricting imports
A) can protect United States jobs in the protected industry, which increases economic welfare of the country as a whole.
B) can protect United States final goods and services in the protected industry and makes consumers better off.
C) can protect United States final goods and services in the protected industry and increase economic welfare of the country as a whole.
D) can protect United States jobs in the protected industry but will also lead to reductions in U.S. output and income.
Answer: D
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The real income per capita is a measure of the
A) well-being of every individual in the nation. B) well-being of the average individual in the nation. C) well-being of the average employed person in the nation. D) total well-being of the nation.
Which of the follow is not a property of the aggregate demand curve?
A. It shows the relationship between the overall price level and the level of total demand. B. The aggregate demand curve slopes downward. C. It shows the relationship between the overall price level and level consumption. D. It shows the price level on the vertical axis and output on the horizontal axis.
When one person's actions harm others (such as in the case of pollution), economists say that a(n) _________ is present.
A. market externality B. negative externality C. network externality D. antitrust externality
Bilateral investment treaties are uncommon
Indicate whether the statement is true or false