During the 1960s, U.S. steel firms argued they needed tariff protection because Germany and Japan were using new mills to make steel since their old mills were destroyed in World War II. Essentially, this argument is a form of the

If real income increases,

a. there will be a rightward movement along a stationary money demand curve b. there will be a leftward movement along a stationary money demand curve c. the demand for money curve will shift rightward d. the demand for money curve will shift leftward e. there will be no movement of the demand curve for money and no movement along it

If the Fed reduces the money supply, there will be a decline in

a. government purchases b. unemployment c. purchases of consumer durables d. demand for bonds e. deflationary pressures