All of the following are arguments in support of protectionist legislation except:
A. increasing political pressure on rogue nations.
B. increasing competition for domestic producers.
C. increasing income equality.
D. increasing tax revenues.
Answer: B
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In the above figure, what could cause the shift of aggregate demand fromAD1 to AD2?
A) depletion of raw materials B) an increase in international trade barriers C) a decrease in consumer confidence D) an increase in input prices
Since 1970 there has been a clear increase in the proportion of the banking industry assets made up of
A) mortgage loans. B) state and local government securities. C) cash. D) business loans.
Imposing a restrictive quota on imported plasma TVs will:
A. increase the price of the plasma TVs and decrease the quantity consumed. B. increase both the price of the plasma TVs and the quantity consumed. C. leave the price of the plasma TVs unchanged but decrease the quantity consumed. D. leave the price and the quantity consumed of plasma TVs unchanged, because domestic producers will expand production to make up for the reduction in imports
According to the new classical theory, economic policies are
A. effective only if anticipated. B. ineffective if anticipated. C. ineffective if unanticipated. D. ineffective, whether anticipated or unanticipated.