Tools a government might use to pursue industrial policy might be all of the following except:
A. directly manipulate markets in order to control prices.
B. incentives for foreign direct investment.
C. investment in research to create more growth.
D. offer tax breaks to firms.
Answer: A
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According to the above figure, then the supply curve will
A) shift from S1 to S2. B) shift from S2 to S1. C) remain at S1. D) shift either to the left or the right, but it is impossible to say without more information.
In the backward-bending portion of a labor supply curve: a. a worker will increase the quantity of labor supplied in response to an increase in the wage. b. the substitution effect of a wage change outweighs the income effect
c. the income effect of a wage change outweighs the substitution effect. d. the substitution effect of a wage change equals the income effect.
Recessions typically last longer than expansions
a. True b. False
Which of the following will lead to a depreciation of the U.S. dollar against the British pound?
A) an increase in British demand for U.S. imports B) an increase in U.S. interest rates C) a decrease in British demand for U.S. assets D) a decrease in U.S. demand for British goods