Inflation targeting was initiated by which central bank in 1989?
A) U.S.
B) Japan
C) Canada
D) New Zealand
E) U.K.
D
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When a nation starts importing a good or service, the domestic production of the good or service
A) decreases. B) stays the same. C) increases. D) might change, but more information about what the country exports is needed to determine if production increases, decreases, or does not change. E) might change, but more information about what else the country imports is needed to determine if production increases, decreases, or does not change.
A characteristic of the long run is
A) all inputs can be varied. B) there are fixed inputs. C) there are both fixed and variable inputs D) plant capacity cannot be increased or decreased.
Choose one of the arguments countries generally use to justify protection for a particular industry. Describe the argument and any inherent problems with it. Is the argument primarily an economic or a noneconomic one?
What will be an ideal response?
When a demand schedule is drawn in a graph: a. price is measured on the vertical axis
b. quantity is measured on the horizontal axis. c. other variables are held constant. d. all of the above are correct.