Tariffs and import quotas both decrease the amount of a good consumed and raise the price paid by domestic residents for the good

An increase in the money supply is represented by a(n):

a. rightward shift of the downward-sloping money supply curve. b. upward shift of the money supply curve. c. rightward shift of the money supply curve. d. increase in the rate of interest.

An economist might be hired to answer which of the following questions?

a. What will the price of oil be next year? b. Why is the median income of women about half the median income of men? c. How much will interest rates change as the federal deficit decreases? d. How much will inflation change if import restrictions are imposed? e. All of the above are correct.