Both ______ and _______ targeted the huge American consumer market as a way to build up their own manufacturing base.
Fill in the blank(s) with the appropriate word(s).
Japan; China
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________ adopts the view that aggregate fluctuations are a natural consequence of an expanding economy
A) The new macroeconomics B) The Okun Gap C) Keynesian economics D) The Lucas Wedge E) Classical macroeconomics
The Volumetric Ethanol Excise Tax Credit (VEETC) is a tax credit for registered ethanol-gasoline blenders. Qualified blenders receive $0.51 for each gallon of pure ethanol they blend into gasoline. VEETC is an example of a
A) subsidy. B) price floor. C) price ceiling. D) quota.
Exhibit 4-11 Data on supply and demand Bushels demandedper month Price perbushel Bushels suppliedper month 45 $5 77 50 4 73 56 3 68 61 2 61 67 1 57 In Exhibit 4-11, the equilibrium price per bushel of wheat is:
A. $1. B. $2. C. $3. D. $4.
Industries in which firms are suffering losses are likely to ________ in the long run.
A. expand B. contract C. neither expand nor contract, as firms must earn an economic profit to stay in business D. expand or contract depending on the normal rate of return