Which of the following is most likely to favor tariffs on imports?
Ans: domestic producers
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Neoclassical growth theory
A) predicts that growth rates and incomes per person throughout the world will converge. B) predicts that the faster growing underdeveloped nations will overtake and then surpass the industrial nations. C) predicts that nations that enjoy a technological advantage will maintain that advantage. D) makes no predictions about the relative growth or incomes among countries.
A monopolistically competitive firm is like a monopoly firm insofar as
A) both face perfectly elastic demand. B) both earn an economic profit in the long run. C) both have MR curves that lie below their demand curves. D) neither is protected by high barriers to entry.
According to the Keynesian model, a decline in the expected price level
a. will increase the inflation rate a central bank must generate to achieve a target level of unemployment. b. will decrease the inflation rate a central bank must generate to achieve a target level of unemployment. c. will not affect the inflation rate a central bank must generate to achieve a target level of unemployment. d. will not impact the effectiveness of monetary policy.
The Federal Reserve System is owned by the U.S. Department of the Treasury
Indicate whether the statement is true or false