Protection from foreign competition benefits domestic producers in the protected industry at the expense of domestic consumers

a. True
b. False
Indicate whether the statement is true or false


True

Economics

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The unemployment rate equals

A) (number of people without a job ÷ population)× 100. B) (number of people without a job ÷ working-age population) × 100. C) [(working-age population - number of people employed) ÷ labor force] × 100. D) (number of people unemployed ÷ labor force) × 100. E) (number of people unemployed ÷ population) × 100.

Economics

If the acceptance of Project A makes it impossible to accept Project B, these projects are:

a. contingent projects b. complementary projects c. mutually inclusive projects d. mutually exclusive projects e. none of the above

Economics

Which of the following is most likely a quote from the economist John Maynard Keynes?

a. “[Economics] is a doctrine rather than a method, an apparatus of the mind, a technique of thinking, which helps its possessor to draw correct conclusions.” b. “[Economics] is neither a method nor a doctrine, an apparatus of the mind, a technique of thinking, which helps its possessor to draw correct conclusions.” c. “[Economics] is a method rather than a doctrine, an apparatus of the mind, a technique of thinking, which helps its possessor to draw correct conclusions.” d. “[Economics] is both a method and a doctrine, an apparatus of the mind, a technique of thinking, which helps its possessor to draw correct conclusions.”

Economics

According to classical economists, the relationship between the amount of funds households plan to save and the interest rate is

A) indirect. B) inverse. C) direct. D) independent.

Economics