Property rights uncertainty will usually cause
a. lower levels of investment spending.
b. lower levels of real interest rates.
c. higher levels of investment spending.
d. higher levels of real interest rates.
a
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A factor-price effect occurs when increases in the industry's output
a. attract new firms to the industry. b. raise the cost of a variable input. c. cause new subindustries to be developed. d. result in lower prices for consumers.
To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
If, for the United States, exports are $450, imports are $320, net income from foreign investments is -$60, and net transfers from abroad is -$50, then the U.S. current account has a
A) deficit of $430. B) deficit of $110. C) surplus of $20. D) surplus of $130.
The above figure shows the U.S. market for wheat. With international trade, U.S. consumers buy ________ tons of wheat and U.S. producers produce ________ tons of wheat
A) 500,000; 500,000 B) 300,000; 500,000 C) 300,000; 700,000 D) 700,000; 300,000 E) 500,000; 700,000