In this graph, which of the following is assumed to be changing?
a. autonomous consumption
b. investment
c. government purchases
d. the price index
d. the price index
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Protectionism is the use of ________ to protect domestic firms from foreign competition
A) cheap labor B) trade barriers C) dumping D) military force
A voluntary production reduction program:
A. offers firms incentives to reduce their production voluntarily. B. forces firms to reduce their production. C. offers firms incentives to increase their production voluntarily. D. forces firms to increase their production.
Of the arguments for limiting trade, which one is the most appealing to economists?
A. protecting the profits of companies B. protecting an industry important to a nation's defense C. helping an industry that is in trouble D. protecting the jobs of citizens
Exhibit 5-6Use the table below to answer the following question(s). Nominal GDP GDP Year(billions) deflator Year 1 600 100.0 Year 21,000 133.3 Refer to Exhibit 5-6. Between Year 1 and Year 2, the general level of prices increased by approximately:
A. 16.7 percent. B. 33.3 percent. C. 66.7 percent. D. 133.3 percent.