Average tariff rates are highest for
A) high-income countries.
B) middle-income countries.
C) low-income countries.
D) industrialized countries.
C
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What does it mean to say that economists use the scientific method? How do economists distinguish between models that work and those that don't?
What will be an ideal response?
An individual who continuously bids for securities that investors want to sell and offers securities that investors want to buy is known as a(n)
A) dealer. B) auctioneer. C) broker. D) underwriter.
If a consumer's budget line for food (F) and shelter (S) is represented as F = 250 - 5S, and 50 units of food is purchased, how many units of shelter can be purchased at most?
A) 0 B) 40 C) 60 D) 80
What is the difference between a public franchise and a public enterprise?
A) A public franchise grants a firm the right to be the sole legal provider of a good or service. A public enterprise refers to a service that is provided directly to consumers through the government. B) A public enterprise grants a firm the right to be the sole legal provider of a good or service. A public franchise refers to a service that is provided directly to consumers through the government. C) A public enterprise is owned by the public through its holdings of shares of stock in the enterprise. A public franchise is a firm owned by the government. D) Both refer to a service provided directly to consumers through the government, but "public franchise" is a term more commonly used in the United States while "public enterprise" is more commonly used in European countries.