According to the graph shown, if this economy were to open to free trade, the domestic quantity demanded would be:
This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
A. 250.
B. 500.
C. 1150.
D. 1500
D. 1500
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Of the many arguments in favor of tariffs, the one that has enjoyed significant economic justification has been the
A) cheap foreign labor argument. B) infant industry argument. C) even playing field argument. D) balance of payments argument. E) domestic living standard argument.
The short-run aggregate supply curve is: a. upward-sloping
b. downward-sloping. c. horizontal. d. vertical.
Ceteris paribus refers to all of the following ideas except
a. changing just one variable at a time b. holding everything else constant c. everything else being equal d. one-to-one cause and effect relationships e. in the absence of other influences
One difference between public goods and near public goods is the degree of rivalry
Indicate whether the statement is true or false