A tariff is a tax on imports.
Answer the following statement true (T) or false (F)
True
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In the economic way of thinking, a tax on pollutants
A) unfairly places the burden of pollution reduction on the poor. B) is inefficient because it won't reduce pollution to zero. C) tries to alter relative money costs to reflect new decisions about who has which rights. D) cannot be labeled unfair as long as the tax revenues are used to fund public works projects.
Government intervention can increase total welfare when
A) there are costs or benefits that are external to the market. B) consumers do not have perfect information about product quality. C) a high price makes the product unaffordable for most consumers. D) all of the above E) A and B only
A nonprice determinant of demand refers to something that:
A. affects the price other than demand. B. affects demand other than the price. C. determines how large a role prices play in the demand decision. D. determines how prices are affected by income.
Market risk is:
a. The chance that financial assets cannot be sold quickly and without substantial loss of value. b. The chance of a change in the market value of a security due to changes in macroeconomic variables, such as interest rates or exchange rates. c. The risk that credit cannot be expanded by the banking system due to a central bank regulation. d. The chance that borrowers will be unable or unwilling to repay their debts.