Refer to the diagram. Assume that G and T 1 are the relevant curves, the economy is currently at B, and the full-employment GDP is A. This economy has a(n):
A. cyclically adjusted budget surplus.
B. actual budget deficit.
C. cyclically adjusted budget deficit.
D. actual budget surplus.
D. actual budget surplus.
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Which of the following are reasons economists consider valid for trade protection?
I. Protection penalizes countries that have weak environmental standards. II. Protection limits dumping of low-wage jobs into the domestic economy. III. Protection prevents low-wage jobs in foreign countries from lowering wages in the United States. A) I and II B) II and III C) I, II, and III D) none of the above
Suppose you want to open a T-shirt shop. Which of the following would be most helpful in deciding how to price your T-shirts?
(A) Market demand schedule (B) Demand curve (C) Market demand curve (D) Demand schedule