Trade restrictions like tariffs and quotas will
A) ensure that more dollars stay in the United States.
B) protect American jobs and increase employment.
C) reduce the value of goods and services that we will be able to produce and consume.
D) make all Americans better off.
C) reduce the value of goods and services that we will be able to produce and consume.
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The Keynesian aggregate demand curve slopes downward because for any given money supply, an increase in the price level ______ real money holdings which _____ the interest rate and _____ income
a. increases; lowers; increases b. reduces; raises; reduces c. reduces; lowers; increases d. increases; raises; reduces
Money is one of our nation's resources (factors or means of production)
a. True b. False Indicate whether the statement is true or false
Everyone in an economy tends to do better when we experience:
A. high economic growth, low unemployment, and high inflation. B. steady economic growth, low unemployment, and stable prices. C. steady economic growth, high unemployment, and stable prices. D. high economic growth, high unemployment, and low inflation.
The Coase theorem suggests that private markets may not be able to solve the problem of externalities
a. if the government does not become involved in the process. b. when the number of interested parties is large and bargaining costs are high. c. if the firm in the market is a monopoly. d. if some people benefit from the externality.