In the wake of worsening relations with China, some Americans called for an increase in tariffs on Chinese products coming into America. If higher tariffs are imposed on clothing produced in China, the price of clothing in America would

Use a figure to illustrate the ineffectiveness of monetary policy to spur on an economy under a fixed exchange rate

What will be an ideal response?

Because people's wants are unlimited but resources are scarce,

a. only the rich get everything they want b. choices must be made c. there will be more services produced than goods d. people search for spiritual fulfillment rather than material fulfillment e. poor people never get anything they want