During the international crises of 1837 and 1857,
(a) the U.S. and England were connected financially.
(b) the British were pursuing heavy internal improvements.
(c) the U.S. was in the midst of heavy industrial expansion.
(d) all of the above were true.
(a)
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The figure above shows that as a result of the tariff, the quantity of T-shirts produced in the United States ________, and the quantity of T-shirts imported ________
A) increases by 15 million per year; decreases by 30 million per year B) increases by 15 million per year; increases by 15 million per year C) decreases by 15 million per year; decreases by 30 million per year D) decreases by 30 million per year; increases by 30 million per year E) does not change; decreases by 15 million per year
In 2014, the price of peanuts was rising, which led peanut butter sellers and peanut butter buyers to expect the price of peanut butter would rise in the future. Suppose the effect on the buyers was larger than the effect on the sellers
Consequently, in the current market for peanut butter there is a ________ in the price of peanut butter and ________ in the quantity of peanut butter. A) rise; an increase B) rise; a decrease C) fall; a decrease D) fall; an increase
The justification for occupational licensing laws is that they protect the public from incompetent practitioners (for example, lawyers and medical doctors), but the laws also result in
A) ownership of a key input. B) higher prices and restrictions on the number of people who can enter the professions affected by the laws. C) an increase in the amount of output required to achieve minimum efficient scale. D) economies of scale.
What is monetary policy?
What will be an ideal response?