If a tariff is used to protect U.S. jobs,
a. income is transferred from consumers to protected producers.
b. national production and income increase.
c. national production rises but income decreases.
d. the effect is neutral since imports are replaced by domestic goods.
a. income is transferred from consumers to protected producers.
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The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
Which of the following events would cause a movement upward and to the right along the supply curve for mangos?
a. The number of sellers of mangos increases. b. There is an advance in technology that reduces the cost of producing mangos. c. The price of fertilizer decreases, and fertilizer is an input in the production of mangos. d. The price of mangos rises.
Entry fees at national parks and monuments are an example of:
A. the ability-to-pay principle of taxation. B. the benefits-received principle of taxation. C. government bureaucracy and inefficiency. D. the principle of limited and bundled choice.
A monopolistically competitive firm maximizes profits when it
A. produces the quantity at which marginal cost equals marginal revenue and sets the price equal to the marginal revenue. B. produces the quantity at which marginal cost equals marginal revenue and sets the price equal to the marginal cost. C. produces the quantity at which marginal cost equals marginal revenue and uses the demand curve to determine the market price. D. produces the quantity at which marginal cost equals the market price.