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Author Archives: Anonymous

If a country imposes tariffs on a type of foreign good, and…

If a country imposes tariffs on a type of foreign good, and uses the “infant industry” argument as justification, what is it referring to?

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What is the difference between a tariff and a quota? 

What is the difference between a tariff and a quota? 

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If the U.S. imposed an import quota on foreign aluminum, wha…

If the U.S. imposed an import quota on foreign aluminum, what would likely happen?

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Consumers are hurt by tariffs because:

Consumers are hurt by tariffs because:

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When we look at a period of many years, Aggregate Supply goe…

When we look at a period of many years, Aggregate Supply goes up mostly because of ___________.

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What is meant by capital deepening?

What is meant by capital deepening?

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Choose the appropriate pair of answers that best complete th…

Choose the appropriate pair of answers that best complete the following statement: As international trade increases, workers who are highly skilled __________ , and those who are unskilled  ________ . 

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In the long term, the most important factor shifting the AS…

In the long term, the most important factor shifting the AS curve is ___________.

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As a country trades more with other nations, jobs in that co…

As a country trades more with other nations, jobs in that country move away from sectors where that economy does not have a _________ advantage and toward sectors where it has a __________ advantage.

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When the general level of prices goes down, we call that:

When the general level of prices goes down, we call that:

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