If a tariff on beef were implemented, which of the following would rise?
a. exports and net exports
b. exports but not net exports
c. net exports but not exports
d. neither exports nor net exports
d
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In the long run, economic growth is determined by
The tendency of many economic variables to move together in a predictable way over the business cycle is called
A) recurrence. B) persistence. C) comovement. D) inflation.
Unlike the segmented markets theory, the expectations theory attributes the slope of the yield curve to
A) tax considerations. B) the fact that short-term bonds are not perfect substitutes for long-term bonds. C) the market's view of future short-term interest rates. D) the variance in the inflation rates over the business cycle.
Normative economic analysis tends to
A) generate testable hypotheses. B) include the way someone thinks things should be or ought to be. C) involve descriptive statements. D) lead to empirical testing of data.