Rational expectations theory is the concept that only unanticipated or surprise policies can influence inflation

What is the total demand for goods and services in an entire economy called?

A) supply and demand B) GDP demand C) aggregate demand D) consumer demand

Which of the following statements is true?

a. Free trade benefits a country when it exports but harms it when it imports. b. "Voluntary" limits on Canadian exports of hogs are better for the United States than U.S. tariffs placed on Canadian hog exports. c. Tariffs and quotas differ in that tariffs work like a tax and therefore impose deadweight losses, whereas quotas do not impose deadweight losses. d. Free trade benefits a country both when it exports and when it imports.