Brain research

Vygotsky’s concept of scaffolding helps to define the role of adults in children’s learning.

“New industries need to be protected or they won’t have the opportunity to grow up.” This is a statement of the __________ argument for trade restrictions.

Figure 34-7 Refer to Figure 34-7. PW is the price that exists in a free world market. If the U.S. imposes a quota to reduce imports to Q4 – Q3, price will rise to

Figure 34-5 Refer to Figure 34-5. Assume that the current price of sugar in the United States is $300 per ton (which includes a $100 per ton tariff on sugar imports). Consumers’ surplus is equal to the area __________ while producers’ surplus is 

The income effect is the

Consider the U.S. banking system in 2007. Assume that the required reserve ratio is 10%, that there are no cash leakages, and that banks hold zero excess reserves. Suppose that the Federal Reserve conducts open market operations by purchasing $1,000 worth of government securities from Bank A. As a result, Bank A finds itself with $1,000 in excess reserves that it lends out and those funds end up in Bank B. Table 13-1  Bank Increase in Checkable Deposits New Required Reserves New Checkable Deposits Created by Extending New Loans A $0 $0 $1,000 B $1,000 — — C — $90 — D $810 — — Refer to Table 13-1. At the end of this process of money creation, what is the total amount of new checkable deposits

The change in the interest rate due to a change in the supply of loanable funds is referred to as the __________ effect.

Which of the following actions is most likely to lead to a decrease in the federal funds rate?

Imagine that you have just graduated from college and are exploring various job opportunities. You have researched what each job involves, how likely you are to get it, and how the different workplaces compare with each other. What strategies might you use to make a final decision about which job to apply for?