_____ prefer a quota to an import tax
a. Foreign producers
b. Importers
c. Consumers
d. Foreign consumers
b
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Japan, Singapore, and Taiwan have all:
A. had success with import substitution policy. B. imitated South Korea's export-led growth policy and failed. C. imitated South Korea's import substitution policy and failed. D. had success with export-led growth policy.
Choosing from among the following, the worst recession was in
A. 1937-1938. B. 1980. C. 1990-1991. D. 2001.
Which scenario is LEAST LIKELY to occur in a market economy?
A) The government pays farmers to stop planting certain crops for a period of time. B) The government stops a factory from producing imitations of an expensive type of purse. C) The government offers tax breaks to companies that meet efficiency goals in their products. D) The government allows only two competitors to offer goods for sale on the country's highways.
For a previously-legal good, criminalization will cause
A. demand to become less elastic. B. supply to become more elastic. C. price to fall, unambiguously. D. supply to increase.