Protection from foreign competition benefits domestic producers in the protected industry at the expense of domestic consumers
a. True
b. False
Indicate whether the statement is true or false
True
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Refer to Scenario 1-2. Using marginal analysis terminology, another economic term for the incremental revenue received from the sale of the last 300 hats is
A) gross earnings. B) sales revenue. C) gross profit. D) marginal revenue.
Toys for Toddlers, Inc, sells in a perfectly competitive market, with an equilibrium price of $5 . Its marginal revenue: a. is greater than $5. b. is $5
c. is less than $5. d. is less than zero.
A proposed increase in the federal income tax rate should:
A. have no impact on the slope of the yield curve since the tax laws impact all maturities the same. B. cause the slope of the yield curve to become negative. C. flatten the yield curve. D. increase the slope of the yield curve since it increases the risk premium of longer maturities.
Which of the following refers to a short run phenomenon?
A. diminishing returns B. economies of scale C. constant returns to scale D. diseconomies of scale