What are the tools that a country can use to restrict international trade?
What will be an ideal response?
A country can use tariffs, import quotas, other import barriers such as health, safety, and regulation barriers, and voluntary export restraints to restrict international trade. Export subsidies given by a nation decrease other countries' exports and thereby restrict their international trade.
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The monetary policy instrument the Federal Reserve chooses to use is the
A) federal funds rate. B) monetary base. C) fixed exchange rate. D) discount rate. E) flexible exchange rate.
The table above shows Mary's utility from chips and soda. The table shows that
A) Mary prefers sodas to chips. B) Mary will consume no soda and only chips. C) Mary's marginal utility decreases as she consumes more chips. D) Mary's total utility decreases as she consumes more chips.
Intellectual property rights provided by patent systems typically ________
A) provide tax incentives to encourage research and development B) allow for the depreciation of capital C) compensate the government for building infrastructure D) last about twenty years
The perfectly competitive firm has no influence over price because
a. its output is so insignificant relative to the market as a whole. b. anti-trust laws constrain perfectly competitive firms. c. consumers establish the prices of products. d. it doesn't know its demand curve.