A tariff imposed on foreign imports will cause _____.
a. demand for imports to increase
b. domestic prices of imported goods to rise
c. market supply of importable goods to increase
d. domestic prices of imported goods to fall
e. market supply of domestic goods to decline
Question 2
The natural rate hypothesis suggests that improvements in technology that occur normally during the course of time will lead the economy to the natural rate of unemployment.
a. True
b. False
Indicate whether the statement is true or false
U.S. oil imports
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The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage