The Smoot-Hawley Act:
A. bound the world's nations to a gradual process of tariff reduction.
B. established very high tariffs on goods imported to the United States.
C. exempted American exporters from the Sherman Antitrust Act.
D. established the reciprocal trade agreements program.
B. established very high tariffs on goods imported to the United States.
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________ shifts the consumption function upward
A) A decrease in the marginal propensity to consume B) An increase in the price level C) An increase in the real interest rate D) An increase in expected future disposable income E) An increase in disposable income
What is a public good?
What will be an ideal response?
In medieval Europe an important technological advance was the use of the padded horse collar for plowing. Once this idea was thought of, other people used it. This illustrates that knowledge is generally a
a. public good. b. societal good. c. private good. d. normal good.
How is a firm affected by an increase in employment at a level less than Q*?
a. Additional workers add profits. b. The market wage exceeds marginal revenue product. c. Individual workers have a strong effect on wages. d. The firm experiences a labor surplus.