How would the imposition of tariffs on imported leather boots be likely to affect domestic boot manufacturers?
a. Foreign competition would increase.
b. Prices for domestic boots will be lower.
c. Boot prices will rise and sales increase.
d. Imports will outsell domestic boots.
c. Boot prices will rise and sales increase.
You might also like to view...
Which of the following is not a potential source of comparative advantage for China in the manufacturing sector?
A) Abundant low wage, low skill workers B) A large domestic market that can lead to scale economies C) Coastal areas with good logistics for international trade D) Abundant credit from China's government sector to set up manufacturing operations
The government sometimes provides public goods because
a. private markets would not produce any of the goods. b. private markets would not produce the efficient quantity of the goods. c. private markets would charge too high a price for the goods. d. the government produces public goods more efficiently than private markets can.
In a socialistic system, most economic decisions are made by:
A. firms. B. consumers. C. stockholders. D. government planners.
The income and wealth gap in the United States has
A. decreased in recent years. B. stayed the same in recent years. C. increased in recent years. D. helped reduce the federal budget deficit.