Related to the Economics in Practice on page 673: If the candle makers in the petition were able to gain protection for their industry, the French economy would most likely
A. benefit only if the protection was in the form of a tariff.
B. have to pay higher prices for candles.
C. benefit in the short run.
D. become more efficient.
Answer: B
Economics
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Which of the following is not "crowded out" by higher interest rates as a result of expansionary fiscal policy?
A) net exports B) private investment C) consumption D) government spending
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An increase in demand, holding supply constant, will tend to cause:
a. Lower prices and a smaller quantity sold b. Lower prices and a larger quantity sold c. Higher prices and a larger quantity sold d. Higher prices and a smaller quantity sold
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