The U.S. Constitution prohibits government from imposing tariffs and quotas that restrict _______________. The authors of Common Sense Economics would also apply this prohibition to _______. (Fill in the blanks)
A) exports; imports
B) imports; exports
C) budget deficits; budget surpluses
D) budget surpluses; budget deficits
A) exports; imports
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In the United States it is clear that if a dollar were diverted from present consumption to present investment, the return on that investment would be ________ to reward the deferral of consumption, meaning that overall economic welfare would rise
with ________ in national saving. A) insufficient, an increase B) insufficient, a decrease C) more than sufficient, an increase D) more than sufficient, a decrease
By vertically integrating, two firms can
A) increase market share. B) avoid holdup problems. C) limit the problems inherent in moving too quickly. D) avoid antitrust issues.
In the European Union, resale price maintenance is generally illegal is the selling firm has more than a ________ percent market share of the product being sold or the buying firm makes more than a ________ percent market share of the product purchases.
A) 30; 30 B) 50; 50 C) 30; 50 D) 50; 30
Taxes drive a wedge into the market by raising the price that sellers receive and lowering the price that buyers pay
a. True b. False Indicate whether the statement is true or false