In the United States during the Great Depression, tariffs were ________ than they were following World War II, and ________ than they are today

A) higher; higher B) higher; lower C) lower; lower D) lower; higher


A

Economics

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Phases and turning points of the business cycle are expansion, peak, recession and trough

Indicate whether the statement is true or false

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Which of the following is true concerning cost curves?

a. TC + TFC = TVC b. AFC + AVC = ATC c. MC + AVC = TVC d. TC – MC = TFC e. ATC + MC = TC

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In the short-run, when output is zero,

A. fixed cost is zero. B. variable cost is zero. C. total cost is zero. D. All of the choices are correct.

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Describe and explain how a perfectly competitive firm's demand curve is found

What will be an ideal response?

Economics