The political attractiveness of tariffs, quotas, and other trade restrictions is primarily the result of
A) the political clout of domestic consumers.
B) the attractiveness of sound economic policies to elected political officials.
C) the special interest nature of trade restrictions.
D) the political clout of foreigners.
C) the special interest nature of trade restrictions.
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The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
Use the concept of location rent to explain what will happen to property values in your neighborhood if a landfill opens two blocks down the street
Are we running out of natural resources?
a. No, because we may abandon the use of a particular resource before we exhaust its supply. b. Yes, because some resources are nonrenewable. c. Yes, because all resources are eventually nonrenewable. d. Yes, because we live in a finite world. e. No, because all resources are in infinite supply.
Contractual provisions based on indexing are also called
a. withdrawal clauses. b. swap clauses. c. escalator clauses. d. averaging clauses.