The total tariff revenue to the government of an imported good is found by adding the tariff to the quantity of the good imported
a. True
b. False
Indicate whether the statement is true or false
False
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There is no role for government in a free enterprise economy such as the United States.
Answer the following statement true (T) or false (F)
If Country A's real GDP per person is growing at 6 percent and Country B's real GDP per person is growing at 3 percent, then
A) the standard of living is higher in Country A. B) the standard of living is higher in Country B. C) the standard of living is growing more rapidly in Country A. D) We cannot say whose standard of living is growing more rapidly without knowing the population growth rate. E) We cannot say whose standard of living is growing more rapidly without knowing the growth rate of real GDP.
An increase in government expenditures ________ "national saving" and thus tends to ________ private investment
A) increases, increase B) increases, decrease C) decreases, increase D) decreases, decrease
Changing the price of a good will usually result in a negative externality
Indicate whether the statement is true or false