What are trade adjustment assistance programs?
A. Away of subsidizing exports
B. Attempts to compensate those who suffer losses when trade restrictions are reduced
C. The use of exchange rate policies to equalize exports and imports
D. A form of regulatory trade restriction
Answer: B
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What will be an ideal response?
Less-developed countries are poor for all of the following reasons except
a. their technology is less than modern b. the political system is unstable c. lack of adequate infrastructure d. lack of skilled workers e. the labor force is too small
Which of the following models imply that a decrease in the money supply reduces unemployment temporarily but not permanently?
a. both the long-run Phillips curve and the aggregate supply and aggregate demand model. b. the aggregate demand and aggregate supply model, but not the long-run Phillips curve. c. the long-run Phillips curve, but not the aggregate demand and aggregate supply model. d. neither the long-run Phillips curve nor the aggregate supply and aggregate demand model.
A change in a fixed tax will cause the consumption schedule to
A. become steeper. B. become flatter. C. shift in a parallel manner. D. remain fixed as the economy moves along the schedule.