If a foreign producer sells a good in a country at a lower price than in its home market, this is called
A) a countervailing duty.
B) a tariff offset.
C) dumping.
D) a reverse tariff.
C
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When (if at all) are budget deficits inflationary?
a. when AS is perfectly horizontal b. when AS has a very steep slope c. when AS has a downward slope d. when AS intersects AD
A firm might offer efficiency wages in order to reduce shirking
a. True b. False Indicate whether the statement is true or false
Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
Do you think the General Agreement on Tariffs and Trade (GATT) rulings on the U.S. efforts to reduce the number of dolphin mortalities and the World Trade Organization (WTO) rulings on U.S. insistence that foreign shrimpers use turtle excluder devices to protect sea turtles were justified? In your answer be sure to explain the rulings and the reasons behind these rulings. How might the United States have pursued its objectives so that it did not violate GATT and WTO rules?
What will be an ideal response?