President Bush imposed temporary tariffs on imported steel in 2002 . The reasons for this trade restriction is most consistent with the
a. national-security argument.
b. infant-industry argument.
c. unfair competition argument.
d. protection-as-a-bargaining chip-argument.
b
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In which of the following markets do firms sell the same standardized product?
A. Four-door cars B. Desktop computers C. 2% milk D. Sandwiches
Microeconomics deals with which of the following?
a. the total output of an economy b. the measurement of a nation's inflation rate c. how producers and consumers interact in individual markets d. how tax policies influence economic growth e. whether wage growth will outpace inflation in the coming year
Union members earn about the same wage level as nonunion members in the same industry
a. True b. False Indicate whether the statement is true or false
If real interest rates in the United States are higher than those of our trading partners, what will tend to happen to the foreign exchange value of the dollar and the U.S. current account deficit or surplus?
a. The dollar will depreciate; the current account will move toward a deficit. b. The dollar will depreciate; the current account will move toward a surplus. c. The dollar will appreciate; the current account will move toward a deficit. d. The dollar will appreciate; the current account will move toward a surplus.