Trade deflection is an act that
A) decreases the amount of international trade in the world.
B) increases the amount of international trade in the world.
C) has no impact on the amount of international trade in the world.
D) is illegal among all countries in the world.
B
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When nominal interest rates are held below inflation rates, then households will have an incentive to
A. consume. B. save. C. purchase financial assets. D. postpone current consumption plans.
Which of the following methods could be used to correct for external costs?
A) Impose a tax or an effluent fee on the offenders. B) Have the offender clean up the pollution it caused. C) Require firms in the industry to install pollution control devices. D) All of the above would be appropriate.
According to the above figure for a gasoline market, at a price of $1 per gallon of gasoline, there would be
A) a shortage of 30 million gallons.
B) a surplus of 30 million gallons.
C) a shortage of 20 million gallons.
D) a surplus of 50 million gallons.
The conviction that rich people should pay more taxes than poor people demonstrates the ______.
a. regressive tax approach b. flat tax approach c. ability-to-pay principle d. benefits-received principle