The Average Duration of Unemployment and Changes in the Consumer

question 76

Multiple Choice

The average duration of unemployment and changes in the consumer price index for services are _________.

• A) leading economic indicators
• B) coincidental economic indicators
• C) lagging economic indicators
• D) composite economic indicators
• E) none of these

Recognize the impact of trade policies such as tariffs and quotas on domestic markets and the global economy.

Understand the concept of comparative advantage and its implications for international trade.

Identify the effects of international trade on producer and consumer surplus.

Grasp the economic implications of autarky versus engaging in international trade.