Restrictions on free international trade designed to protect domestic industries from competitive market forces that originate beyond the borders of the country are:
A) competitive policies.
B) protectionist policies.
C) free trade policies.
D) antitrust policies.
Ans: B) protectionist policies.
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For most of World War II, the United States economy temporarily operated ____________ the production possibilities frontier.
Fill in the blank(s) with the appropriate word(s).
At his profit-maximizing level of output, a monopolist's average total cost curve is tangent to his demand curve. The monopolist
a. is earning a negative economic profit. b. may or may not be earning a negative economic profit. c. is earning zero economic profit. d. is earning a positive economic profit.
If the price level in the current period is higher than what buyers and sellers anticipated,
What will be an ideal response?
Which of the following statements would John Maynard Keynes most likely agree with?
a. “All income generated from output is used to buy goods and services.” b. “Supply automatically creates adequate demand.” c. “Income is always spent in the period that it is produced.” d. “A decline in investment leads to insufficient total spending.”