Governments sometimes erect barriers to trade other than tariffs and quotas. Which of the following is not an example of this type of trade barrier?
A) a requirement that the U.S. government buy military uniforms only from U.S. manufacturers
B) a requirement that imports meet health and safety requirements
C) restrictions on imports for national security reasons
D) a requirement that the employees of domestic firms that engage in foreign trade pay income taxes
D
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The congestion tax implemented in London reduced traffic volume and cut travel time for cars and buses in half
Indicate whether the statement is true or false
The following data relate to the supply schedule of a product.PriceQuantity Supplied$51001020015250203002535030500The price elasticity of supply (based on the midpoint formula) when price decreases from $25 to $20 is
A. 0.69. B. 0.51. C. 1. D. 0.64.
What is an externality?
What will be an ideal response?
In Figure 22.2, which area represents producer surplus to the tobacco company? 
A. AP*C B. 0BCQ* C. 0P*CQ* D. BP*C