The rules of the GATT
a. apply only to domestic trade within a nation
b. apply to both domestic trade within a nation and international trade with other nations
c. apply only to trade among nations
d. prohibit tariffs
e. encourage high tariffs
C
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It is reasonable to assume that in a developed economy technological shocks occur ________ across industries, which ________ the RBC theory of business cycles
A) randomly, opposes B) randomly, supports C) uniformly, opposes D) uniformly, supports
Which of the following is not held constant along a firm's demand curve for labor?
A) the quantity of other inputs used by the firm B) the price of the product produced by the firm C) the wage rate D) changes in technology
If Y = income, G = government spending, T = autonomous taxes, and t = income tax rate, then the government budget deficit can be expressed as
A) G - T/Y(t). B) G - T. C) Y + G - T - ty. D) G - T - ty.
A decrease in the expected future income of the United States would likely:
A. shift its AD curve to the left. B. shift its AD curve to the right. C. make its AD curve steeper. D. make its AD curve flatter.