Direct democracy makes tariffs less likely to be voted into law because
A. domestic producers threatened by increased imports will lobby against the trade agreements entered into by the countries.
B. the size of the individual losses would be larger than the individual gains from any potential protectionist measure.
C. the number of people who are hurt by protectionist measures exceeds the number of people who gain from protectionist measures.
D. each person does not vote on the basis of his/her direct interest as a winner or loser from protection.
Answer: C
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The cars produced by Toyota in its factory in Kentucky ________ in U.S. GDP and ________ in U.S. GNP
A) count, count B) count, do not count C) do not count, count D) do not count, do not count
Which of the following explains why the Fed is able to have a dramatic effect on aggregate demand and real output in the short run?
A. price confusion that speeds up the adjustment of real GDP B. money illusion that speeds up the adjustment of the price level C. sticky prices that slow the adjustment of the price level D. sticky wages that slow the adjustment of real GDP
Presenting options in a fashion that makes people more likely to make one choice over another is called:
A. choice architecture. B. the ACE model. C. traditional economics D. natural experiments.
Table 14.2Refer to Table 14.2. In which market do buyers underestimate the chance of getting a lemon?
A. 1 only B. 2 only C. 1 and 3 only D. 2 and 3 only