Protectionist policies often seek to shield domestic producers and domestic workers from ________ competition.

Given that Sandy can produce 10 economics reports or 2 sales calls and Tim can produce 2 economics reports or 1 sales call, which of the following would NOT be a mutually agreeable terms of trade for Sandy and Tim?

A) 1 economics report for 1 sales call B) 1 sales call for 3 economics reports C) 1 sales call for 4 economics reports D) 1 economics report for 1/4 of a sales call

Suppose the central bank implements a monetary contraction that is fully expected by financial market participants. Given this information, we would expect

A) stock prices to rise. B) stock prices to fall. C) stock prices to remain unchanged. D) an ambiguous effect on stock prices. E) stock prices to fall and the interest rate to rise.