The reason protectionism remains strong in the United States is that
A) economists can produce any result they are hired to produce.
B) economists cannot persuade the general public that free trade is beneficial.
C) economists do not really understand how the real world works.
D) the losses associated with protectionism are diffuse, making lobbying by the public impractical.
E) economists cannot agree on trade policy recommendations.
D
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The New Keynesian transmission mechanism for monetary policy is characterized by
A) helicopter drops of money. B) money having an impact on the real interest rate. C) banks using money injections for business loans. D) the government buying goods with fresh money.
Supplier power is high when
a. Suppliers are concentrated b. The inputs provided are critical c. The inputs provided are unsubstitutable d. All of the above
Which of the following is a danger of high rates of inflation
What will be an ideal response?
The market for economists in Greenland has recently experienced an increase in the number of economists employed and an increase in the wage paid to economists. What could have generated such a change?
A. The demand for economists remained unchanged while the supply of economists decreased. B. The demand for economists recently decreased while the supply of economists remained unchanged. C. The demand for economists recently decreased while the supply of economists recently increased. D. The demand for economists remained unchanged while the supply of economists increased. E. The demand for economists recently increased while the supply of economists remained unchanged.