Specific tariffs are collected as
A) fixed amounts of money per unit traded.
B) a percentage of the price of the product.
C) a percentage of the quantity of imports.
D) All of the above.
A
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When the government imposes a tariff on imported goods, it _____________ prices for domestic consumers, ________________ consumers' surplus and _________________ the producers' surplus for domestic producers.
A. raises; lowers; raises B. lowers; raises; raises C. lowers; raises; lowers D. raises; lowers; lowers E. none of the above
In the DMP model, an increase in the unemployment insurance benefit does not, under any circumstances
A) increase the vacancy rate. B) increase the unemployment rate. C) reduce labor market tightness. D) reduce the size of the labor force.
Which of the following is among the possible reasons that the 2007-2009 financial crisis did not result in an economic depression?
A) the declaration of a bank holiday by the nation's President B) international policy coordination C) strict reliance on conventional monetary policy D) government spending restraint
When the average variable cost curve is upward sloping, what must be true about the marginal cost curve?
A) It is U-shaped. B) It is above the average variable cost curve. C) It is upward-sloping. D) It is below the average variable cost curve. E) It is a straight line.