Which of the following terms best describes the idea that a nation's trade policy is restrictive, limiting the amount of imports from other countries?
A) Protectionism B) Nationalism C) Mercantilism D) None of the above
Answer: A
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The marginal propensity to consume explains how much of the next dollar of disposable income
A. a business will invest. B. the government will spend. C. a household will spend. D. foreign residents will use to purchase domestic exports.
If the economy is operating on the long-run aggregate supply curve, then expansionary fiscal policy will
A. generate an increase in real GDP without higher prices in the short run, but then real GDP will return to its long-run level, and the price level will increase. B. generate higher prices in the short run, but will induce aggregate supply to increase in the long run. C. generate an increase in real GDP and higher prices in both the short run and the long run. D. generate an increase in real GDP and higher prices in the short run, but then real GDP will decrease to its long-run level, and the price level will increase some more.
Because of the weak systems of property rights in many developing and transition economies, the financial system is unable to use collateral effectively worsening the ________ problem
A) adverse selection B) moral hazard C) principal/agent D) diversification
Food retailers usually do not compete on which of the following factors?
a. Price b. Variety c. Location d. Packaging