As a result of a tariff on an imported good,
a. domestic producers are better off because they sell more goods at the same price.
b. domestic producers are better off because they sell more goods at a higher price.
c. domestic producers are better off because they sell the same quantity of goods at a higher price.
d. domestic consumers are better off because there are more domestically produced goods available.
e. domestic consumers are neither better off nor worse off because imports do not change.
B
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Suppose there is some unemployment in the economy and society decides that it wants more of one good. Which of the following statements is true?
A) It will have to increase resource supplies. B) It can increase output without giving up another good by employing more resources. C) It is not possible to achieve this unless technology advances. D) It will have to give up production and consumption of some other good.
Economist James Tobin developed a formal model that justifies holding ________, and it goes some way in explaining variations in the demand for ________
A) only safe assets or only risky assets, M1 B) only safe assets or only risky assets, M2 C) a mix of safe and risky assets, M1 D) a mix of safe and risky assets, M2