The study of international trade and national income is part of

Related MCQs

• The economist who said that international trade was based upon the concept of absolute advantage was:
• Protectionism in the international trade stands for:
• Suppose that the MPC out of disposable income was 0.8 and the tax function for a given economy was T= -30+0.25Y. an increase in the intercept of the tax function of 10 units(from -30 to -20 would cause equilibrium income in the simple Keynesian model to fall by
• Assuming a simultaneous deduction in income taxes and transfer payments of $50 billion, then aggregate disposable income will
• If the income and substitution effect of a price increase works in the same direction the good whose price has changed is a
• Suppose that the MPC out of disposable income was 0.8 and the marginal tax rate was 0.25 for a given economy. In this case, the value of the tax multiplier in the simple Keynesian model would be
• If the tax function is T= t0+t1y where t1 equals 1/3,and if the marginal propensity to consume out of disposable income is 3/4 , then the change in GDP oer unit change into t0 (∆Y/∆ t0) will be
• In the simple Keynesian model, if the tax function is given by T=0.15Y and the consumption function is C= 50 + 0.7 YD then a 10-unit ncrease in government spending would increase equilibrium income by
• From the net tax function: T=t0+t1Y,where t0<0 and t1>0, it follows that, as income rises
• Under the new trade policy, import licensing was abolished except in case of