President Obama is an advocate of free trade, but which of the following actions is contrary to free trade?
A. closing the Cuban prison
B. not getting the immigration problem solved.
C. imposing a 35% tax on imported tires.
D. implementing the stimulus plan.
C. imposing a 35% tax on imported tires.
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If a bank does not loan out all of its excess reserves, the amount of money the banking system can create is greater than if all of the excess reserves were loaned out
Indicate whether the statement is true or false
Of the following industries, which are perfectly competitive? For those that are not perfectly competitive, explain why
a. Restaurants b. Corn c. College education d. Local radio and television
If the price of a product increases
A. total revenue will definitely decrease. B. total revenue will definitely increase. C. consumer surplus will decrease. D. consumer surplus will increase.
Briefly compare and contrast the business cycle theory of Joseph Schumpeter and the real business cycle theory