Under U.S. commercial policy, the escape clause results in
A) temporary quotas granted to firms injured by import competition.
B) tariffs that offset export subsidies granted to foreign producers.
C) a refusal of the U.S. to extradite anyone who escaped political oppression.
D) tax advantages extended to minority-owned exporting firms.
E) tariff advantages extended to certain Caribbean countries in the U.S. market.
A
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Use the following graph to answer the next question.
In the diagram, Qf is the full-employment output. If the economy's present aggregate demand curve is AD2,
A. the most appropriate fiscal policy is a reduction in government purchases or an increase of taxes. B. the most appropriate fiscal policy is an increase in government purchases or a reduction of taxes. C. the government should undertake neither an expansionary nor a contractionary fiscal policy. D. the economy is achieving its maximum possible output.
The quantity of U.S. dollars demanded in foreign exchange markets is primarily a function of ________
A) the demand for U.S. goods and services B) the demand for U.S. goods by foreigners C) the expected return on U.S. dollar assets relative to foreign assets D) foreign interest rates
Which of the following actions could be undertaken if the government wants to close a recessionary gap?
A) Increase taxes and reduce government spending. B) Reduce taxes and increase government spending. C) Increase taxes and increase government spending. D) Reduce taxes and reduce government spending.
The "Taylor rule" for monetary policy provides the Fed with a
a. mechanical prescription for monetary policy. b. benchmark to guide policy decisions. c. time frame for discount rate changes. d. rule for changing the M1 money supply.