The monetary rule is the view of the:
a. Monetarists that monetary policy is most important.
b. Keynesians that monetary policy is most important.
c. Classical economists that monetary policy is most important.
d. Monetarists that the Fed should expand the money supply at a constant rate.
d
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Suppose that American firms claim that protectionism in Canada is on the rise as the Canadian government attempts to protect its infant industries with a "Buy Canadian" provision
This policy, similar to the original "Buy American" provision in the 2009 U.S. stimulus bill, is likely to cause A) Canadian companies to pay lower prices for protected products. B) exporting countries to retaliate by placing trade barriers on Canadian imports. C) most countries to reduce their own trade barriers to be able to better compete with Canadian imports at home. D) Canadian manufacturers to become more efficient.
If a customs union leads to a large amount of trade diversion relative to trade creation, it may be beneficial to world welfare
Indicate whether the statement is true or false
Critics of advertising argue that firms use advertising to manipulate consumers' tastes
a. True b. False Indicate whether the statement is true or false
GDP is used as the basic measure of a society's economic well-being. A better measure of the economic well-being of individuals in society is
a. saving per person. b. GDP per person. c. government expenditures per person. d. investment per business firm.