Which of the following tariffs resulted in worldwide retaliation against the United States during the Great Depression?
A. the Pasta Tariff
B. the Chicken tariff
C. the Smoot-Hawley tariff
D. the Tariff of Abominations
Answer: C
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Which of the following is CORRECT about a time-series graph?
I. The x-axis measures time. II. A time-series graph can reveal if there is a trend in the variable. A) only I B) only II C) both I and II D) neither I nor II
Over the range of most of a firm’s output, average revenue is greater than price.
Answer the following statement true (T) or false (F)
A one percentage point change in the required reserve ratio would change the money supply by less than one percent, other things being equal
a. True b. False Indicate whether the statement is true or false
Assume that the central bank sells government securities in the open market. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the real exchange rate and monetary base in the context of the Three-Sector-Model? State your answer after the macroeconomic system returns to complete equilibrium. Assume the nominal exchange rate is stated
as: (Foreign currency/ Domestic currency). a. The real exchange rate rises and monetary base rises. b. The real exchange rate rises and monetary base falls. c. The real exchange rate and monetary base fall. d. The real exchange rate and monetary base remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.