Are tariffs and quotas equivalent in their economic effects? Demonstrate
What will be an ideal response?
No. There are government revenue differences. There are differences related to market dynamics, industrial organization of the protected industry, administration, and the potential for corruption.
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Carlson earns an income of $10,000 per month. Under the federal income tax system, the first $9,000 he earns is taxed at 10% and the remaining income is taxed at 20%. The tax owed by Carlson equals _____
a. $1,100 b. $2,000 c. $1,500 d. $3,000
Between 1870 and 1913, labor migration from the "Old World" (Europe) to the "New World" (the United States, Canada, and Australia):
a. decreased the rate of growth of real wages in the New World and increased the rate of growth of real wages in the Old World. b. increased the rate of growth of real wages in the New World and decreased the rate of growth of real wages in the Old World. c. decreased the rate of growth of real wages in both the New and Old Worlds. d. increased the rate of growth of real wages in both the New and Old Worlds.
As women's wages have risen relative to men's wages, the opportunity cost to women of doing housework has ________ than has the opportunity cost to men
A) increased less B) increased more C) decreased more D) decreased less
Non-discretionary fiscal policy initiatives adopted in 2009 were intended mainly to
A. decrease aggregate supply. B. decrease aggregate demand. C. increase aggregate supply. D. increase aggregate demand.