Those individuals who rejected the U.S. tariff policy of the antebellum period did so for which of the following reasons? They
(a) Wanted to save domestic jobs in those industries reliant on imports.
(b) Depended on imports for domestic production.
(c) Wanted to protect relatively low consumer prices, advance free trade and boost economic efficiency.
(d) All of the above.
(d)
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If the good in the above figure is a normal good and income rises, then the new equilibrium quantity
A) is less than 300 units. B) is 300 units. C) is more than 300 units. D) could be less than, equal to, or more than 300 units.
There is no trade-off between efficiency and equality
a. True b. False Indicate whether the statement is true or false
Using the information in Situation 20-1, if aggregate output equals $8,000, the unplanned inventory investment equals
A) -$100 B) $0 C) $100 D) $500
The purpose of antitrust laws is to
a. reduce anticompetitive activities b. increase anticompetitive activities c. guarantee worker safety d. promote quality products e. prevent large-scale production