Tariffs to limit imports to "protect U.S. jobs" will also
A) stimulate exports.
B) limit exports.
C) decrease import prices.
D) reduce domestic production of import-threatened products.
Answer: B
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Refer to Scenario 3. The average total cost of 5 units of output is:
A) $8. B) $10. C) $29. D) $39.
The Equivalent Variation for an increase in the price of a good is
A) the reduction in a consumer's income necessary to harm the consumer by as much as the price increase. B) the increase in a consumer's income necessary to eliminate the consumer's harm from a price increase. C) the change in consumer surplus resulting from a price increase. D) the amount of money a consumer would accept to be subject to a price increase.
John Maynard Keynes explained that the consumption function is a major component of the aggregate expenditures model
a. True b. False Indicate whether the statement is true or false
When supply changes there is a ____, and when the price changes there is a ____.
A. movement along the supply curve; shift in the supply curve B. shift in the supply curve; shift in the supply curve C. shift in the supply curve; movement along the supply curve D. movement in the quantity supplied; shift in selling plans E. change in the quantity supplied; change in supply