One of the major effects of trade liberalization has been
A) the liberal use of tariffs and quotas.
B) an increase in the use of beggar-thy-neighbor trade policies.
C) the globalization of supply chains.
D) an increase in the world price for most goods.
C
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When an income tax has a progressive rate structure, _____
a. average tax rates are higher than marginal tax rates b. marginal tax rates are higher than average tax rates c. marginal tax rates are constant across all income ranges d. average and marginal tax rates are equal across all income ranges
If firms meet together to decide on prices and outputs there is
a. overt collusion. b. tacit collusion. c. price leadership. d. None of the above are correct.
The finite nature of the economy's resource base:
A. will be solved if only we would learn to conserve. B. is only a problem in developing countries. C. will be solved as technology advances. D. will always be with us.
According to economist Abba Lerner (1903-1982), fiscal and monetary policy is analogous to:
A. automobile brakes. B. a steering wheel in an automobile. C. a string that can be pushed or pulled. D. highway guard rails.