Keynes focused on problems of
A. hyperinflation.
B. budget deficits.
C. trade deficits.
D. unemployment and inflation.
Answer: D
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A rise in the price of a good causes producers to supply more of the good. This statement illustrates
A) the law of supply. B) the law of demand. C) a change in supply. D) the nature of an inferior good.
Which of the following is a flow in the circular flow model?
A) the flow of profit and the flow of revenue B) the flow of income earned by firms and the flow of expenditures earned by households C) the flow of revenue received by firms and the flow of payments to resource owners D) the flow of goods and services from households to firms
A corporation can raise funds by issuing all of the following except
a. common stock b. convertible stock c. bonds d. money e. preferred stock
U.S. firms can produce and sell electric fans for $25. The United States can also import electric fans from China at $40 each and from Canada at $45 each. Electric fans made in the United States, China, and Canada are identical. Currently, the United States imposes a 30% tariff on imported electric fans. For the United States, are there trade diversion losses, trade creation gains, or both as a result of the formation of NAFTA?
a. There are only trade diversions losses b. There are only trade creation gains. c. There are neither trade creation gains nor trade diversion losses. d. There are both trade creation gains and trade diversion losses.