A recent (2009) example of a U.S. tariff on foreign imports which caused retaliation from trading partners was the case of a U.S. tariff imposed on Chinese
a. tire imports.
b. agricultural imports.
c. airplane imports.
d. clothing imports.
a. tire imports.
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Compared to other nations, the United States spends the largest proportion on health care and consequently ranks above other industrialized nations in life expectancy and infant mortality.
Indicate whether the statement is true or false
In consumer equilibrium, the marginal utility of good A, B and C are 100, 300, and 400 respectively. If the price of good A was $35, then the prices of goods B and C, respectively, are:
a. $105 and $140. b. $140 and $105. c. $105 and $175. d. $140 and $175.
Which of the following adopted reforms that have substantially improved their economic freedom rating since 1980?
a. Ireland b. China c. New Zealand d. All of the above.
Marginal utility:
A) is equal to total utility divided by the number of units consumed. B) is equal to total utility if the demand curve is linear. C) increases as more of a product is consumed. D) diminishes as more of a product is consumed.