Who does not want a tariff?
(a) Consumers of imported goods
(b) Domestic businesses producing goods that compete with the imported goods
(c) Politicians trying to garner domestic support from the import-competing domestic industries
(d) The federal government
Question 2A One-Child Policy was instituted in 1979 in ________.
A) Brazil
B) South Africa
C) India
D) China
Question 3The rise in European protectionism helped the U.S. economy by increasing foreign demand for agricultural goods.
Indicate whether the statement is true or false
Question 4The middle Atlantic colonies were more popular than New England as destinations for immigrants before 1770 because of their more liberal religious attitudes and the availability of land.
Indicate whether the statement is true or false
Question 5The difference between the simple Keynesian model and the IS-LM curve model is that the latter
a. excludes a money market and interest rates.
b. includes a commodity market and flexible income.
c. excludes a commodity market and interest rates.
d. includes a money market and flexible interest rates.Figure 7-3
Question 6In real business cycle models, business cycles are caused by ______, while in new Keynesian model, business cycles are caused by ________.
a. aggregate demand; aggregate demand
b. aggregate demand; aggregate supply.
c. aggregate supply; aggregate demand.
d. fiscal policy; monetary policy
Question 7Unlike World War I (191418), the war debt of World War II (194145) was manageable and did not contribute to inflation.
Indicate whether the statement is true or false
Question 8According to supply-side economics, a cut in taxes will affect total tax revenue, because ________.
A) the level of productivity should fall precipitously with a tax cut
B) a tax cut will be followed by an even larger decrease in government spending
C) of the resulting increase in saving
D) of the positive impact on the level of income
Question 9Incentives matter and different groups of producers, consumers and politicians will support those policies that promise to advance those projects most advantageous to them. Which statement about opposition to or support for U.S.
tariff policy during the antebellum period is correct? (a) Producers in the South objected to tariffs placed on imported goods. They needed them at relatively low prices for their own production.
(b) Plantation owners supported a high tariff as protection against cheap cotton imports.
(c) Politicians wanted to protect jobs abroad as well as in the U.S. Therefore, they did not support U.S. tariff policies.
(d) All of the above are correct.
Question 10Land owners with secure and protected property rights are motivated to
(a) use their land productively.
(b) maintain their land and its value as long as the land is owned privately
and profits are realized by the land owners.
(c) not hold their land idle if they face property taxes due to costs
imposed by the tax system.
(d) link land ownership and personal freedom.
Quick Reply
