All of the following are arguments against free trade EXCEPT
A. dumping.
B. the infant industry argument.
C. the need to protect American jobs.
D. comparative advantage.
Answer: D
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The economic theory that emphasizes the role of difficulties in coordinating economic affairs as a cause of economic fluctuations is known as
A) investment cycle theory. B) real business cycle theory. C) technology shock theory. D) Keynesian economics.
Who sets the rules for entitlements when spending is authorized under this category?
A) the agency involved B) the Congress when it appropriates the spending C) each individual state D) the President
For Elliot's dog-walking service, the only variable input is labor. Elliot's labor costs are $300 a day and his service walks 30 dogs per day. To walk 31 dogs per day, his labor costs increase to $305 a day. The marginal cost of walking that 31st dog is
A) $5. B) $9.83. C) $19.52. D) indeterminate from the information given.
Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap. 
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary