Related to the Economics in Practice on page 673: Satirist Frederic Bastiat's essay arguing for a quota on sunlight in order to protect domestic candle makers suggests that it is pointless to
A. participate in international trade.
B. legislate based on economic theory.
C. protect industries that cannot compete effectively.
D. create barriers to trade in some markets but not others.
Answer: C
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If the exchange rate appreciates, then the
A) quantity of dollars demanded increases. B) demand for dollars decreases. C) quantity of dollars demanded decreases. D) demand for dollars increases. E) supply of dollars decreases.
In research, what is the importance of experiments? What is meant by randomization in experiments?
What will be an ideal response?
If the market price is above the equilibrium price:
A. A shortage will occur and producers will produce more and lower prices B. A surplus will occur and producers will produce less and lower prices C. A surplus will result and consumers will bid prices up D. Producers will make extremely high profits
The level of household savings constrains firm investment.
Answer the following statement true (T) or false (F)