If the U.S. government were to impose a 20% tariff on all foreign imports, this would likely lead to ____ in demand for foreign currencies, causing the dollar to ______.
A. a decrease; depreciate
B. an increase; depreciate
C. a decrease; appreciate
D. an increase; appreciate
C. a decrease; appreciate
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The short run aggregate production function is subject to ________ if capital stock is increased, holding the total efficiency units of labor as constant
A) increasing returns to scale B) constant returns to scale C) decreasing returns to scale D) the Law of Diminishing Marginal Product
If the marginal propensity to save (MPS) is 0.25, the value of the spending multiplier is:
a. 1. b. 2. c. 4. d. 9.
Table 1.2 shows the hypothetical trade-off between different combinations of Stealth bombers and B-1 bombers that might be produced in a year with the limited U.S. capacity, ceteris paribus.Table 1.2Production Possibilities for BombersCombinationNumber of B-1 BombersOpportunity cost(Foregone Stealth)Number of Stealth BombersOpportunity cost (Foregone B-1)A20NA195 B35 180 C45 150 D50 100NAThe lowest opportunity cost in Table 1.2 for Stealth Bombers is
A. 10 B-1 bombers B. 3 B-1 bombers C. 2 B-1 bombers D. 4 B-1 bombers
The theory of regulatory behavior that suggests that regulators must consider the demands of legislators, consumers, and members of the regulated agency is called
A. the natural theory. B. the creative theory. C. share-the-gains, share-the-pains theory. D. the capture theory.