A tariff on a particular good does which of the following?
a. It increases the net-of-tariff price received by foreign producers
b. It increases the price of the good to domestic consumers.
c. It redistributes income away from domestic producers toward domestic consumers.
d. none of the above
b
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The most important feature of the Single European Act of 1986, which amended the founding Treaty of Rome, was dropping the requirement of
A) unanimous consent for measures related to market completion and making it a decision that only Germany and France agreed about. B) unanimous consent for measures related to market completion. C) majority consent for measures related to market completion and making it a decision that only Germany and France agreed about. D) unanimous consent for measures related to agricultural policies only. E) unanimous consent for measures related only to fiscal policies.
An increase in wealth that doesn't affect labor supply would cause the IS curve to ________ and the FE line to ________
A) shift down and to the left; be unchanged B) shift down and to the left; shift left C) shift up and to the right; be unchanged D) shift up and to the right; shift left
In a Keynesian model, a temporary increase in government purchases would cause output to ________ and the domestic real interest rate to ________, in the short run.
A. remain unchanged; increase B. increase; decrease C. increase; increase D. remain unchanged; decrease