A tax on a good that is imposed when it is imported is called
A) an import quota.
B) a VER.
C) a tariff.
D) a sanction.
E) a border tax.
C
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If people suddenly start to expect the price of oil to rise less rapidly than the interest rate, the demand for oil ________ and the supply of oil ________
A) increases; increases B) increases; decreases C) decreases; decreases D) decreases; increases
"Ceteris paribus" means
A) "invisible hand." B) "other things constant." C) "making all the necessary changes." D) "individual."
Which of the following products are not included in current U.S. GDP?
a. a Washington apple b. a Ford Mustang produced last year and sold this year c. a physical examination at a California health clinic d. All of the above are included in current U.S. GDP.
Over the past few decades, nominal interest rates have been higher than real rates of interest. This means that
a. lenders must have expected inflation. b. borrowers must have expected deflation. c. lenders must have expected prices to fall. d. borrowers must have expected prices to fall.