A change in autonomous consumption causes a movement along the aggregate expenditure line, while a change in consumption that depends on income causes a shift of the aggregate expenditure line
a. True
b. False
B
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Refer to Figure 9-1. Suppose the government allows imports of leather footwear into the United States. What will the market price be?
A) $10 B) $18 C) $24 D) >$24
Since the end of World War II,
A) tariffs around the world fell substantially. B) agricultural subsidies were significantly reduced. C) most nations began to apply tariffs uniformly across all industries. D) tariffs increased in low-income countries and fell a small percentage in high-income countries.
The reason some insurance customers are more eager to purchase insurance is
a. they are more risk averse b. they are less risk averse c. they have a greater risk of making a claim d. A and C
Korman Industries is a foreign multinational that recently established operations in the European Union. What is the most likely advantage for Korman as a result?
A) Governance processes are streamlined because local governments have been eliminated. B) Market size is larger because of the elimination of internal tariff barriers. C) Differential external tariff barriers exist for product shipments. D) The EU uses English