Tariff rates remained high in the U.S. throughout the postbellum period for which of the following reasons?
(a) The government needed revenues to finance its expenditures.
(b) Special interest groups organized themselves to realize rents.
(c) Land sales dwindled as the Western frontier closed.
(d) All of the above.
(d)
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Helga owns Viking, Inc, started with her $100,000 inheritance. Helga's accountant informs her that her firm earned a profit of $100,000 last year, and that if she chooses to invest the money she can expect a 10% return. If Helga did not run Viking, she would not work. What were Helga's economic profits last year?
a. Zero b. $100,000 c. $90,000 d. $95,000
One unpleasant cure for the U.S. trade deficit of the 1990s would be for foreigners who hold U.S. financial assets to demand
a. lower interest rates to stimulate U.S. growth rates. b. higher interest rates and generate a recession in the United States. c. higher interest rates and generate an appreciation of the dollar. d. lower interest rates and generate a depreciation of the dollar.
The values of variables such as GDP expressed in current dollars are referred to as
A. the price index. B. real values. C. nominal values. D. a deflator.
The Mexican peso crisis of 1994 and 1995 was directly related to
A) a large capital account surplus. B) a large capital account deficit. C) an undervalued peso. D) a large current account surplus.