A possible reconciliation of the Leontief Paradox is that the United States has high tariffs on capital intensive goods and low tariffs on labor intensive goods
Indicate whether the statement is true or false
FALSE
Explanation: This is both untrue and opposite the reconciliation of Travis. Such a tariff structure would make it more likely that U.S. trade patterns would have conformed to Leontief's priors.
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Which of the following should be increased during a recession?
A) Income taxes B) Government spending C) Real interest rates D) Nominal interest rate
When comparing a? $100 billion increase in government expenditure to a? $100 billion decrease in tax? revenue, the effect of the increase in government expenditure on aggregate demand is
A) greater than the effect of the tax decrease.
B) equal to the effect of the tax decrease.
C) less than the effect of the tax decrease.
D) positive whereas the effect of the tax decrease is negative.
E) negative whereas the effect of the tax decrease is positive.
If you look for a job for eighteen months after graduation, but fail to generate an offer, even after lowering your expectations, the economy is probably in the business cycle phase called a:
A. recession. B. peak. C. boom. D. recovery.
In a two-dimensional graph showing the relationship between income and consumption in the economy, what is shown on the vertical axis and what is shown on the horizontal axis?
Please provide the best answer for the statement.