A. Canada
B. Australia
C. Japan
D. China
Related Mcqs:
- If the economy is in the expansionary phase of the business cycle, aggregate demand ____ unemployment ____ inflation ____ payments is likely to move towards ____?
A. falls; rise; falls; surplus
B. is static; low; rise; deficit;
C. falls; falls; falls; surplus
D. rise; falls; rises; deficit - Suppose that tomatoes from Mexico face a 20 percent tariff in the United States and a 25 percent tariff in Canada. If the United States and Canada maintain free trade between each other, the these two countries belong to a ?
A. free-trade area
B. customs union
C. common market
D. monetary union - Compared to what occurred under free trade, Mexico’s producer surplus ____ and consumer surplus ____ as a result of the subsidy Use the figure that you have plotted to calculate the amounts ?
A. decreases, decreases
B. decreases, increases
C. increases, decreases
D. increases, increases - An optimal tariff is one which reduces imports to the level at which ____ equals ____?
A. imports, exports
B. the balance of trade, zero
C. The demand for currency the supply of currency
D. social marginal cost, social marginal benefit - If the economy is in the recessionary phase of the business cycle, aggregate demand ___ unemployment ____ inflation ___ and the current account of the balance of payments is likely to move towards ____?
A. falls; falls; falls; surplus
B. is static; low; rises; deficit
C. falls; rises; falls; surplus
D. rises; falls; rises; deficit - The substitution effect of a rise in the price of labour will ____ the quantity of labour and the output, effect will ____ it
A. increase; increase
B. increase; reduce
C. reduce; reduce
D. reduce; increase - Automatic stabilisers act to ____ government expenditures and ____ government revenues during recessions ?
A. increase: increase
B. decrease; decrease
C. increase; decrease
D. decrease; increase - Antimonopoly legislation is undertaken to ____ competition and market regulation is undertaken to ____ competition ?
A. restrict; promote
B. restrict; restrict
C. promote; promote
D. promote; restrict - The long-run Phillips curve is ____ at the ____?
A. horizontal, natural rate of inflation
B. horizontal natural rate of unemployment
C. vertical natural rate of inflation
D. vertical equilibrium rate of unemployment - According to Coase’s theorem when property rights are well defined and legally enforceable and transactions costs are not prohibitive ?
A. population growth leads to rigid land rights
B. participants will organize their transactions
C. violence displacement erosion and poverty are minimized
D. individuals overuse of the biosphere is curtailed
