Following the downgrade of U.S. debt by Standard & Poor's in August, 2011:
A) other rating agencies also downgraded U.S. debt
B) interest rates spiked as investor's perception of risk increased
C) investors didn't seem to be any more concerned about default risk than before the downgrade
D) the U.S. implemented a plan to significantly reduce its budget deficit later that year
C
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The imposition of tariffs will help a nation attain which of the following goals?
A) decreased domestic consumer prices B) increased domestic employment C) increased amount and variety of goods available for consumers D) increased competition between domestic and foreign producers E) gains for domestic producers
Turning points in business cycles occur when
A) a new business cycle is initiated at the trough. B) the economy hits the peak or trough in the business cycle. C) the business cycle begins to follow a new pattern that differs from previous business cycles. D) a new business cycle is initiated at the peak.