What is the current average tariff on imported goods for the world?
a. equal to 2 percent
b. equal to 5 percent
c. less than 5 percent
d. greater than 5 percent
c. less than 5 percent
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The long-run effects of an increase in the saving rate include
a. a higher level of productivity. b. a higher growth rate of productivity. c. a higher growth rate of income. d. All of the above are correct.
If price is lowered by law from the market equilibrium value of $5 to a lower value of $4:
A. producer surplus will decrease and there will be some total surplus lost. B. consumer surplus will decrease and there will be some total surplus lost. C. there will be lost surplus, as both producer surplus and consumer surplus decrease. D. both producer surplus and consumer surplus will increase.
Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
Based on Table 9.3, if values in the table are amended to reflect a net increase in U.S. foreign direct investment of 100, then the new balance for the capital account balance becomes
A) -75. B) -25. C) +25. D) +75. E) +225.