Which of the following accurately shows how world trade has changed since 1950?
a. Average tariff rates are under 5%.
b. The Smoot-Hawley tariff was passed.
c. International trade has fallen sharply.
d. Tariffs and quotas have increased.
a. Average tariff rates are under 5%.
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Refer to Table 1-4. What is Eva's marginal benefit if she decides to stay open for two hours instead of one hour?
A) $25 B) $36 C) $60 D) $95
Higher interest rates as a result of deficit spending:
A. increase the wealth of future generations. B. crowd out private investment. C. ultimately has a positive impact on productivity gains and? society's standard of living. D. raise growth in investment spending.
The essential-industry argument holds that industries with potential export capabilities should be protected.
a. true b. false
The demand for dollars will increase when
A) real interest rates in the United States fall. B) U.S. labor productivity increases relative to the world. C) the world is perceived as more stable than it used to be. D) U.S. residents develop a taste for more imported products.