Tariffs on imported coffee will result in all of the following except:
A. Higher prices for imported coffee.
B. Higher prices for domestic coffee.
C. Gains for workers in the domestic coffee industry.
D. Gains for workers in the foreign coffee market.
D. Gains for workers in the foreign coffee market.
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A decision by foreign central banks to sell their holdings of U.S. Treasury bonds will
A) lower bond prices and interest rates in the United States. B) increase bond prices and lower interest rates in the United States. C) lower bond prices and increase interest rates in the United States. D) increase bond prices and interest rates in the United States.
Supporters of raising the minimum wage argue that minimum-wage laws are
a. a tax-free way to help the working poor. Businesses bear the burden of paying higher wages, not the government. b. better than the Earned Income Tax Credit (EITC) in targeting the working poor. The EITC may benefit teenagers from middle-class families who work summer jobs at the minimum wage. c. better than in-kind transfers such as food stamps in providing food rather than unhealthy items such as drugs or alcohol. d. a way to increase employment of those likely to earn the minimum wage.
Which of the following is most nearly consistent with Say's law?
A) When a person produces one good, he or she plans to demand other goods. B) When a person produces a good, he or she plans to sell it. C) When a person buys a good, he or she plans to pay for it with money. D) When a person goes to work, he or she plans to produce.
In what sense is frictional unemployment "good" for the economy?
What will be an ideal response?