In the short-run, an appreciation in the value of the U.S. dollar will tend to cause ________
A) a decrease in the level of income and higher inflation
B) an increase in the level of income and higher inflation
C) an increase in the level of income and lower inflation
D) a decrease in the level of income and lower inflation
D
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In the 1980s, the U.S. government forced Japanese automakers to limit their exports to the United States. The union representing the autoworkers (UAW), argued that otherwise the U.S. auto industry would have contracted
The UAW's argument is the ________ argument for protection. A) save domestic jobs B) national security C) anti-dumping D) infant-industry E) bringing diversity and stability
Exit from a market will stop when
A) accounting losses are zero. B) the cost of capital is equal to the risk-free rate of return. C) economic losses are zero. D) none of these choices.