An import tariff will cause the terms of trade of the ________ country to ________ and will ________ the country
A) importing; improve; benefit
B) exporting; improve; benefit
C) importing; suffer; harm
D) exporting; improve; harm
E) importing; improve; harm
A
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High employment spurs economic growth because high employment
A) usually reduces inflation. B) discourages foreign imports. C) often leads to a high birth rate. D) often leads to high rates of investment.
You hear an economist state the following: "The increase in the money supply will causes price to rise in the long run and will have no effect on output or any other real factors.". This economist is expressing the principle of _____
Fill in the blank(s) with correct word
For a given nominal interest rate, an unexpectedly high inflation rate ________ the real interest rate.
A. decreases B. increases C. may either increase or decrease D. has no impact on
An appropriate test of the effectiveness of an economic model is
A. the number of economists who have worked on the model. B. the number of assumptions which the economist has made. C. the model's ability to predict future economic activity. D. the number of variables contained within the model.