Because consumers want more Baby Bigfeet dolls, more Baby Bigfeet dolls will be produced and brought to the market. This is an example of

Based on Scenario 6.1 above, if a tariff of 20 percent is placed on imports of dining room tables, and another tariff of 50 percent is placed on imports of wood and parts, then the effective rate of protection on tables made in the United States is

A) 70 percent. B) 50 percent. C) 20 percent. D) 12.5 percent. E) 0 percent.

An appreciation of the British pound relative to the euro will cause England's:

a. Aggregate supply and aggregate demand to rise, which causes prices to rise and real GDP to fall. b. Aggregate supply to rise and aggregate demand to fall, which causes prices to rise and real GDP to fall. c. Aggregate supply to rise and aggregate demand to fall, which causes prices to fall and real GDP to change by an uncertain amount. d. Aggregate supply and aggregate demand to fall, which causes prices to rise and real GDP to fall.