Which of the following creates an obstacle to pursuing freer international trade?
a. Consumers do not recognize their potential gains
b. Losses are widespread
c. Domestic producers do not recognize their potential losses
d. Government has plenty of political will and support to remove trade barriers
e. Consumers can easily organize to demand free trade
A
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Which one of the following is TRUE in an open economy with a government sector?
A) The equilibrium level of real GDP occurs when total planned real expenditures equal real GDP. B) The equilibrium level of real GDP occurs when planned real investment spending is zero. C) The equilibrium level of real GDP occurs when planned real saving equals government spending. D) The equilibrium level of real GDP occurs when real net export spending equals zero.
If Congress decides to reduce the tax per pack paid by sellers of cigarettes, other things being equal, the price of cigarettes will fall. This fall in prices can be attributed a(n):
a. upward movement along the supply curve for cigarettes. b. rightward shift of the supply curve for cigarettes. c. downward movement along the demand curve for cigarettes. d. leftward shift of the supply curve for cigarettes.