It is ______ that a tariff, unlike a quota, provides revenues to the government; it is ________ that a quota directly limits the quantity of a nation's imports from a specific country.
A. true; true
B. false; false
C. false; true
D. true; false
A. true; true
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Does a perfectly competitive producer have any incentive to undercut the current market price? Explain your answer
What will be an ideal response?
The South African diamond production monopoly is an example of monopoly through
A. “patent power.” B. legal restriction. C. control of scarce resources. D. large sunk costs.
An analysis of countries experiencing rapid inflation indicates that inflation is generally
a. caused by strong labor unions. b. the result of restrictive macroeconomic policy, which pushes up interest rates. c. caused by the impulse buying of consumers, who continue to buy the same goods even when prices rise. d. the result of rapid growth in the money supply.
If one Mexican peso was worth 0.05 U.S. dollar, then one U.S. dollar would be worth:
a. 0.05 Mexican pesos. b. 0.05 U.S. dollars. c. 20 U.S. dollars. d. 20 Mexican pesos. e. 5 Mexican pesos.