All of the following are reasons that trade between nations is beneficial EXCEPT
A) gains from specialization.
B) exchange of ideas.
C) protection of domestic industries.
D) gains from trade.
C
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Suppose that the number of companies selling computer software decreases. How does this change affect the supply of computer software and the supply curve of computer software?
What will be an ideal response?
Lower personal income taxes
A) decrease disposable income. B) decrease aggregate demand. C) increase transfer payments. D) increase aggregate demand.
If an industrial union is able to negotiate a wage above the competitive market-clearing wage, employment in the industry will increase
a. True b. False
The interest rate effect states that an increase in the price level will cause:
a. a decline in the interest rate. b. a decrease in investment and aggregate expenditures. c. an increase in the equilibrium level of income. d. a decrease in the supply of financial assets. e. an increase in real wealth.