Which of the following is not an argument in favor of restricting trade?

a. to preserve national security
b. to prevent dumping
c. to increase consumer surplus
d. to protect infant industries
e. to protect declining industries


C

Economics

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All of the following are reasons why the wages of workers and the prices of inputs rise more slowly than the prices of final goods and services except

A) contracts make prices and wages sticky. B) unions are successful in pushing up wages. C) menu costs make some prices sticky. D) firms are often slow to adjust wages.

Economics

The ________ is the number of unemployed divided by the labor force and the ________ is the labor force divided by the adult population

A) unemployment rate; employment rate B) unemployment rate; employment ratio C) unemployment ratio; participation rate D) discouraged worker ratio; employment rate

Economics

If the Naval Research Laboratory fired a chemist and the Environmental Protection Agency hired her at the same salary, the net effect of these events would cause _____ in aggregate demand

a. an increase b. an increase c. a decrease d. a decrease e. no change

Economics

A pollution compensation tax is chosen to

a. keep output stable while reducing pollution b. increase output in a cleaner manner c. make all users pay the same amount of tax d. drive the polluting firms out of business in the long run e. create enough government revenue to clean up the environment

Economics