Suppose that American firms claim that protectionism in Canada is on the rise as the Canadian government attempts to protect its infant industries. This protectionism will cause the greatest harm to
A) Canadian manufacturers.
B) the Canadian government.
C) manufacturers who export to Canada.
D) Canadian consumers.
Answer: C
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Net tax is calculated by adding the amount collected as taxes by the government and the amount spent as transfer payments
a. True b. False Indicate whether the statement is true or false
If the exchange rate value of one U.S. dollar changes from 120 Japanese yen to 140 yen,
a. the U.S. dollar has appreciated relative to the yen. b. the Japanese yen has depreciated relative to the dollar. c. the U.S. dollar has depreciated relative to the yen. d. both a and b have occurred.
Assume the graph shown represents the market for button-up shirts and was originally in equilibrium with D and S. What type of shock might cause a shift from D to D2?
A. The price of ties went up. B. The price of buttons has increased. C. The price of sweatshirts went up. D. Income has increased.
The tradeoff exhibited by the short-run Phillips curve is
A) higher price level with lower real GDP. B) lower inflation with lower unemployment. C) changing inflation with constant unemployment. D) higher inflation with higher unemployment. E) higher unemployment with lower inflation.