From an economic perspective, studies of the costs of trade barriers show that they:
A. Are outweighed by the reduction in foreign competition provided by the barriers
B. Are much less than benefits for domestic producers and workers
C. Are about equal to the benefits from trade barriers
D. Far exceed their benefits for society
D. Far exceed their benefits for society
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In the economic way of thinking, government consists of many different people interacting on the basis of
A) fear. B) legal guarantees. C) prevailing property rights. D) public interests.
Seigniorage refers to
A) real resources a government earns when it prints money to use for spending on goods and services. B) nominal resources a government earns when it prints money to use for spending on goods and services. C) real resources a government earns when it prints money. D) nominal resources a government earns when it prints money. E) real resources a government earns when it issues bonds to use for spending on goods and services.
Under the fixed rate regime foreign countries could hold their dollar exchange rates constant by
A) using tight monetary policy. B) using expansionary fiscal policy. C) negotiating with the central bank of the United States. D) setting their domestic interest rate equal to the U.S. interest rate. E) holding their exchange rates constantly pegged to the euro and yen.
This year, Tom sold his 1998 minivan to Honest John's Used Car Emporium for $5,000 . Honest John then sold the van to Bob for $7,000 . How much would be recorded in GDP this year from these transactions?
a. $0 b. $2,000 c. $5,000 d. $7,000 e. $12,000