An import tariff will cause the relative demand for ________ to ________ and the relative supply for ________ to ________
A) imports; decrease; imports; increase
B) imports; increase; imports; decrease
C) exports; increase; exports; decrease
D) exports; decrease; exports; increase
E) exports; increase; imports; decrease
A
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Which of the following is a private owner prohibited from doing?
What will be an ideal response?
Figure 10-18
As shown in , and assuming the aggregate demand curve shifts from AD1 to AD2, the full-employment level of real GDP is
a.
$10 billion.
b.
$4 billion.
c.
$100 billion.
d.
unable to be determined.
Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
The manager of Steel Works learns of a new technological interdependency between the intermediate stage and the final stage of production. If Steel Works currently contracts with another firm for the intermediate stage of production, which of the following is true?
A) The manager has less of an incentive to integrate backward. B) The manager has more of an incentive to integrate backward. C) The manager has more of an incentive to integrate forward. D) The manager has less of an incentive to integrate forward.