"Demand-side fiscal policy is capable of changing Real GDP." This statement would be most likely to be said by an economist who believes that
A) the AS curve is vertical.
B) the AS curve is upward sloping.
C) complete crowding out exists.
D) there is little, if any, crowding out.
E) b and d
E
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Dumping is defined as the situation in which
A) foreign producers sell a product at a price below the cost of production. B) domestic producers are protected by tariffs. C) domestic producers sell a product at prices below the cost of production. D) foreign producers sell a product at a price above a fair level. E) domestic producers cut production to drive up domestic prices.
Tariff levels in developing countries tend to be ________ tariff levels in developed countries
A) lower than B) about equal to C) higher than D) there is no general pattern
"If I didn't go to class tonight, I would save the $2 campus parking fee and spend three hours at work where I earn $10 per hour." The opportunity cost of attending class this evening is: a. $0
b. $2. c. $30. d. $32.
The aggregate demand curve slopes downward indicating that
a. an increase in the general price level will reduce the aggregate quantity of goods and services demanded. b. an increase in the general price level will increase the aggregate quantity of goods and services demanded. c. a change in the interest rate will alter the aggregate quantity of goods and services demanded. d. consumers substitute between domestic-made and foreign-made goods as their relative prices change.