Restricting imports usually leads to
A) a country producing beyond its production possibilities frontier.
B) a country consuming even further beyond its production possibilities frontier.
C) a reduction in exports and employment.
D) a higher per capita level of real consumption.
Answer: C
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One effect of a stronger dollar is
A) an increase in U.S. exports and a reduction in U.S. imports. B) a reduction in U.S. exports and an increase in U.S. imports. C) an increase in net exports. D) an increase in both imports and exports. The effect on net exports is uncertain.
Demand for a good will always rise when:
a. the price of a complementary good falls. b. the price of a substitute good falls. c. tastes change. d. incomes decrease. e. the price of the good falls.
A decrease in the productivity of labor will shift the demand curve for labor to the left, other things being equal
a. True b. False Indicate whether the statement is true or false
When there are positive externalities associated with the consumption of a good, we can expect the market:
A. demand curve to lie above the social demand curve. B. demand curve to lie below the social demand curve. C. supply curve to lie above the social supply curve. D. supply curve to lie below the social supply curve.