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Trade restrictions are often motivated by a desire to save domestic jobs threatened by competition from imports. Which of the following counter-arguments is made by economists who oppose trade restrictions?

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According to the Keynesian theory a decrease in the money supply increases the interest rate and decreases investment spending. The result of this is thatA.real GDP decreases by the same amount as the change in investment.B.real GDP decreases by a larger amount than the change in investment.C.real GDP decreases by a smaller amount than the change in investment.D.real GDP increases by a smaller amount than the change in investment.

Suppose that there is a​ temporary, but significant increase in oil prices in an economy with an​ upward-sloping SRAS curve. As a policy response to this​ short-lived but sudden increase in oil​ prices, a central bankA.can stabilize neither the price level nor the real GDP.B.can stabilize both the price level and the real GDP simultaneously.C.cannot stabilize both the price level and the real GDP simultaneously.Your answer is correct.D.has no responsibility to stabilize the real GDP.

A contractionary monetary policy lowers equilibrium real GDP in the short​ run, by increasing the interest rate. In an open​ economy, the net export effectA.has no effect on real GDP since changes in exports and imports cancel each other.B.reinforces the effect of a contractionary monetary policy since the increase in the interest​ rate, increases the value of​ dollar, lowers U.S. imports and causes the real GDP to fall.C.reinforces the effect of a contractionary monetary policy since the increase in the interest​ rate, increases the value of​ dollar, lowers U.S. exports and causes the real GDP to fall.D.weakens the effect of a contractionary monetary policy since the increase in the interest​ rate, increases the value of​ dollar, increases U.S. exports and causes the real GDP to increase.

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