The larger the U.S. imposed per unit import tariff on a good imported and produced in the United States,
A) the smaller the U..S consumer surplus.
B) the larger the U.S. producer surplus.
C) the larger the government revenue.
D) All of the above.
D
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If the Fed is concerned about a possible recession, it ________ the federal funds rate, which ________ the quantity of reserves and ________ the amount of bank loans
A) raises; increases; increases B) lowers; increases; increases C) raises; decreases; decreases D) lowers; increases; decreases E) lowers; decreases; decreases
Suppose in a purely competitive market that American firms consider labor costs to be mostly variable while Japanese firms consider labor costs to be mostly fixed
What implication would this have for the viability of firms in each country if they compete with one another in the short run? What about the long run?
Which of the following is incorrect? During the Great Recession U.S:
a. Real GDP fell. b. Unemployment rose. c. Monetary base fell. d. Inflation fell. e. All of the above are correct.
If Q represents real GDP and P is the price level, then P × Q equals ______.
a. real NI b. real NNP c. nominal NNP d. nominal GDP