Which of the following terms refers to a government payment to a domestic producer?
A. Value-Based Benefit
B. Ad valorem tariff
C. Subsidy
D. Specific tariff
E. Quota
Answer: C. Subsidy
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Overproduction compared to the efficient amount implies that for the last unit produced
A) marginal social benefit exceeds marginal social cost. B) marginal social benefit equals marginal social cost. C) marginal social cost exceeds marginal social benefit. D) the deadweight loss is zero.
________ and ________ are the largest sources of revenue collected by the federal government
A) Individual income taxes; corporate income taxes B) Individual income taxes; social insurance taxes C) Excise and other taxes; individual income taxes D) Corporate income taxes; excise and other taxes
Please consider Table 22-2 below. Assuming constant Annual Average Growth Rate in the future, calculate the output per capita for the United States and South Korea for the year 2040
What will be an ideal response?
If the annual interest rate remains unchanged over the next two years, and the present value of $120 to be received one year from now is $100, what will $100 be worth two years from now?
A) $120 B) $140 C) $144 D) Uncertain. We need to know the interest rate.