Generally speaking, protection from foreign competition benefits:
a. both domestic producers and foreign producers.
b. both domestic consumers and foreign consumers.
c. domestic consumers and foreign consumers.
d. neither domestic producers nor foreign producers.
e. domestic producers at the expense of domestic consumers.
e
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If the income-expenditure multiplier equals 4, and a 1 percent increase in the real interest rate reduces autonomous spending by 100 units, then a 1,000 unit recessionary gap can be eliminated by ________ the real interest rate by ________ percent.
A. increasing; 2.5 B. decreasing; 2.5 C. increasing; 10.0 D. increasing; 4.0
The percentage change in quantity supplied that results from a 1 percent change in price is known as the:
A. cross-price elasticity of demand. B. cross-price elasticity of supply. C. slope of the supply curve. D. price elasticity of supply.