A provision that permits raising tariffs if domestic producers are suffering under an existing tariff is known as
a. a trading bloc.
b. exchange control.
c. anti dumping.
d. an escape clause.
d. an escape clause.
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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
Based on the model of the money market, if the Federal Reserve increases the reserve requirement, the equilibrium interest rate should
A) stay the same. B) increase. C) decrease. D) increase to the same extent that the demand for money increases.
The United States experienced a deep recession between 2007 and 2009. Which type of unemployment would most likely increase during that period of recession?
A) cyclical unemployment B) frictional unemployment C) seasonal unemployment D) structural unemployment
Traditionally, economists have considered culture, customs, and religion as
A) very important influences on the choices consumers make. B) relatively unimportant factors in explaining the choices consumers make. C) important influences in explaining consumer choices in command economies but less important in market economies. D) subject to normative economic analysis rather than positive economic analysis.