The Dutch Disease refers to a situation in which new production of a natural resource results in deindustrialization.
Answer the following statement true (T) or false (F)
True
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When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
When gross investment is positive, net investment:
A. may be either positive or negative. B. must be positive. C. must be negative. D. is always zero.
Retired individuals:
a. Are always harmed by inflation. b. Are almost always helped by inflation. c. Could be helped (or, at least, not hurt) by inflation if their assets rise in value. d. Are helped by inflation when it is unexpected. e. Are harmed by inflation when it is expected.
Figure 17-13 In , if the world price of a baseball is $3 and a tariff of $1 per baseball is imposed in the United States, how many baseballs will the United States import?
a.
4,000
b.
6,000
c.
8,000
d.
10,000
e.
12,000