A rationale used for tariff protection by some is that
A. the country wants to practice international price discrimination.
B. imports are produced by firms that are more efficient than domestic producers are.
C. imports are produced by firms that received subsidies from their governments.
D. the country finds its cost of producing their products higher than in other countries.
Answer: C
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Both price floors and price ceilings lead to
a. shortages. b. surpluses. c. reductions in quality. d. a reduction in the quantity traded.
Other things the same, if a country raises its saving rate, when is growth of real GDP per person higher?
a. as the economy moves toward the long run and in the long run. b. as the economy moves toward the long run, but not in the long run. c. in the long run, but not as the economy moves toward the long run. d. neither as the economy moves toward the long run, nor in the long run.
Most of the women with children on welfare are
A. "Welfare Queens". B. either working, looking for work, or being trained for work. C. having one baby after another. D. enjoying a fairly high standard of living.
The supply of bonds curve slopes upwards because
A) at higher prices, bonds pay higher interest which makes them more attractive to suppliers. B) lower prices raises the cost of borrowing which makes them less attractive to suppliers. C) at lower prices, bonds pay higher interest which makes them more attractive to suppliers. D) higher prices raise the cost of borrowing which makes them less attractive to suppliers.