Which of the following is an argument against free trade?
A) protecting infant industries
B) protecting against dumping
C) protecting domestic jobs
D) all of the above
Answer: D
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The above figure illustrates a perfectly competitive firm. Curve B represents the
A) MR curve. B) ATC curve. C) MC curve. D) AVC curve. E) AFC curve.
A fixed exchange rate regime enhances the power of a country's central bank
Indicate whether the statement is true or false
Ruben earned a salary of $60,000 in 2001 and $80,000 in 2006 . The consumer price index was 177 in 2001 and 221.25 in 2006 . Ruben's 2006 salary in 2001 dollars is
a. $20,000; thus, Ruben's purchasing power increased between 2001 and 2006. b. $20,000; thus, Ruben's purchasing power decreased between 2001 and 2006. c. $64,000; thus, Ruben's purchasing power increased between 2001 and 2006. d. $64,000; thus, Ruben's purchasing power decreased between 2001 and 2006.
Conventional budget accounting practices tend to overstate deficits in inflationary periods because they
A. ignore the inflation tax. B. confuse repayment of principal with real interest expenditures. C. double count some expenditures. D. understate real interest rates.