An unanticipated decline in the real interest rate in the loanable funds market will cause the
a. aggregate demand curve to shift to the right.
b. aggregate demand curve to shift to the left.
c. long-run aggregate supply curve to shift to the left.
d. natural rate of unemployment to fall.
A
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Voluntary export restraints
A) have the same effect as an import ban. B) violate the spirit of international trade agreements. C) are illegal under the international trading rules. D) all of the above.
As globalization tends to increase the proportion of imported inputs relative to domestically supplied components
A) the nominal tariff automatically increases. B) the rate of (effective) protection automatically decreases. C) the nominal tariff automatically decreases. D) the rate of (effective) protection automatically increases. E) the amount of tariffs levied increases.
What is the difference between the accountant’s concept of profit and the economist’s view of profit?
What will be an ideal response?
Keynesian economics focuses on:
A. both the long run and the short run. B. the long run. C. the short run. D. neither the long run nor the short run.