If the government decides to impose a new tariff on orange juice from Brazil, the tariff would lead to ________ the tariff revenue collected by the U.S. government
A) no change in
B) an increase in
C) a decrease in
D) an elimination of
E) making illegal
B
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Complete the sentence. An entrepreneur advances a project only if the expected marginal benefit exceeds the expected marginal cost,
A) and so does a government bureaucrat. B) but a government bureaucrat advances a project only if the marginal cost exceeds the marginal benefit. C) but a government bureaucrat is in no position to determine the cost of his own action. D) but a government bureaucrat has no concern about the benefit of his own action.
At the equilibrium real interest rate in the open-economy macroeconomic model
a. saving = domestic investment b. saving = net capital outflow c. net capital outflow = domestic investment d. net capital outflow + domestic investment = saving
The infant industry argument suggests that
A. a country requires tariff protection when it has no comparative advantage in the production of any good. B. an industry may require temporary tariff protection until the industry matures. C. a country requires protection against unfair trade practices. D. the industry has no potential and must be protected to survive.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point C to Point B, ________ additional LCD TVs could be produced when the production of OLED TVs is reduced by 20.
A. exactly 30 B. exactly 60 C. fewer than 30 D. more than 30