Who does not gain when a tariff is imposed?
A. Domestic producers of the good.
B. Domestic workers in the protected industry.
C. Domestic consumers of the good.
D. Domestic suppliers in the protected industry.
C. Domestic consumers of the good.
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Suppose there are 100 million in the labor force, and 6 million unemployed people. During the next month, 200,000 people lose their jobs and 300,000 find jobs. The new total of employed persons is ________ and the new unemployment rate is ________
A) 100.1 million; 5.8 percent B) 100 million; 6.1 percent C) 94.1 million; 5.9 percent D) 93.9 million; 6.1 percent
Expansionary fiscal policy ________ the price level and ________ equilibrium real GDP
A) increases; decreases B) decreases; increases C) decreases; decreases D) increases; increases
Between 1965 and 1972, eight major pieces of consumer-protection legislation were enacted. This burst of legislative activity was largely driven by
a. increased public fears following the thalidomide tragedy. b. public outcry following a series of steamboat explosions. c. a general lack of faith in the market. d. widespread support for the "Reagan Revolution.".
For barter exchange to take place,
a. there has to be a double coincidence of wants b. the goods must be divisible c. money must be assigned to each barter transaction to indicate the values exchanged d. no less than four parties (at least two sellers, two buyers) to the exchange are needed e. gold has to be one of the goods traded