Which of the following countries is not one of the top three exporting countries in the world?
A) South Korea B) Germany C) the United States D) China
A
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Equilibrium in the money market occurs when
A) the quantity of money demanded is less than the quantity of money supplied. B) the interest rate equals the money supply. C) the quantity of money demanded is more than the quantity of money supplied. D) the quantity of money demanded equals the quantity of money supplied.
An efficient tax is
A) a tax that raises a maximum amount of revenue. B) a tax that imposes a small excess burden relative to the tax revenue that it raises. C) a tax that imposes an equal tax burden on buyers and sellers. D) a tax that is used to fund research and development of new technology.
Even a bank in good financial health can fail if there is a run on the bank
a. True b. False
The infant industry argument can be justified because
A. Government may choose to protect industries, which places heavy import burdens on the economy. B. The government may not be able politically to end protectionism even when protectionism is no longer justified. C. A new industry may never develop in a protected, noncompetitive environment. D. A new industry may be difficult to start in the face of existing foreign competition.