Suppose the nation of Alphonia was charged with dumping electric lawnmowers in the nation of Omegalon. The result of Omegalon imposing anti-dumping tariffs on electric lawnmowers manufactured in Alphonia would most likely be
A) lower selling prices on electric lawnmowers in Alphonia.
B) higher selling prices on electric lawnmowers in Omegalon.
C) increased exports of electric lawnmowers from Alphonia.
D) an increased market share for Alphonian-manufactured electric lawnmowers in Omegalon.
B
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Bart is seen standing in front of the cooler that contains containers of iced tea and lemonade. Moments later, we see Bart drinking iced tea, and we conclude Bart is getting more utility from that drink than lemonade. We drew that conclusion based on what economic concept?
A. Revealed preference B. Utility minimization C. Satisfaction scales D. Rational behavior
The liquidity-preference model was first introduced in:
A. 2008 by Ben Bernanke. B. 1936 by John Maynard Keynes. C. 1776 by Adam Smith. D. 1970 by John Kenneth Galbraith.
A less developed economy has greater income inequality the
a. less the economy is dependent upon agriculture b. smaller the middle class c. more the economy is dependent upon manufacturing d. less diverse the level of manufacturing activity e. greater the level of education in the country
If a monopolist engages in price discrimination, it will:
A. realize a smaller profit. B. charge a higher price where individual demand is inelastic and a lower price where individual demand is elastic. C. produce a smaller output than when it did not discriminate. D. charge a competitive price to all its customers.