If Brazil imposes a 50% tariff on automobiles and a 25% tariff on motors, the effective rate of protection on autos is
A) higher than the nominal rate of protection on autos.
B) need more information to answer.
C) lower than the nominal rate of protection on autos.
D) equal to the nominal rate of protection on autos.
C
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The real-balance effect implies that when
A) the price level decreases, the value of money balances held by individuals, firms, government, and foreigners increases and spending decreases. B) the price level increases, the value of money balances held by individuals, firms, government, and foreigners increases and spending increases. C) the price level increases, the value of money balances held by individuals, firms, government, and foreigners decreases and spending decreases. D) the price level decreases, the value of money balances held by individuals, firms, government, and foreigners decreases and spending decreases.
An increase in professors' salaries increases the supply of college education
a. True b. False
The Fed's most important and most frequently used tool of monetary policy is
A) moral suasion. B) open-market operations. C) changes in the discount rate. D) changes in required reserve ratios.
The best example of a "frictionally unemployed" worker is one who:
A. has lost their job because skills no longer match job requirements. B. is laid off during a recessionary period in the economy. C. is in the process of voluntarily switching jobs. D. reduces productivity by causing frictions in a business.