What is dumping?
What will be an ideal response?
The sale of a good by a foreign supplier in another country at a price below that charged by the supplier in its home market.
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The figure above shows Prakash's and Gail's production possibilities frontiers for writing books and magazine articles
a. What is Prakash's opportunity cost of a book? What is Gail's opportunity cost? Who has the comparative advantage in writing books? b. Who has the comparative advantage in writing magazine articles? c. According to their comparative advantages, who should write books and who should write magazine articles?
The demand for computers increases. As a result
A) the quantity demanded of workers increases, the wage rate rises, and the supply of labor increases. B) the demand for workers increases, hiring increases, but wages stay the same since each firm faces a horizontal supply curve of labor. C) the wage rate increases in the industry and the quantity demanded of workers falls. D) the wage rate increases in the industry and the quantity supplied of workers increases.
The total cost of taxation to consumers and producers generally exceeds the amount of tax revenue collected by government.
Answer the following statement true (T) or false (F)
Refer to the information provided in Figure 3.13 below to answer the question(s) that follow.
Figure 3.13Refer to Figure 3.13. Assume hamburgers and french fries are complements. A decrease in the price of french fries will cause a movement from
A. Point A to Point B. B. Point G to Point F. C. S2 to S1. D. D1 to D2.