If a small country imposes a tariff, then
A) the producers must suffer a loss.
B) the consumers must suffer a loss.
C) the government revenue must suffer a loss.
D) the demand curve must shift to the left.
E) the world price on that item will shift.
B
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Which of the following would cause the money demand curve to shift to the left?
A) a decrease in real GDP B) an increase in the interest rate C) an increase in the price level D) an open market purchase of Treasury securities by the Federal Reserve
If nominal GDP increases 4 percent during a year, and real GDP increases 7 percent during the same year, which of the following must by true?
a. The total value of GDP must have increased 11 percent during the year. b. The general level of prices as measured by the GDP deflator decreased by approximately 3 percent during the year. c. The general level of prices as measured by the GDP deflator increased by approximately 3 percent during the year. d. Imports must have been about 3 percent larger than exports during the year.