Import duties ranging from 28 percent to 113 percent on Chinese frozen and canned shrimp are an example of a policy that:
A. protects domestic producers from foreign producers.
B. uses regulations and taxes to protect domestic consumers.
C. protects domestic fisheries from overfishing.
D. protects domestic consumers from foreign producers.
Answer: A
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If the Palace Cinema can sell 200 tickets at $4 and 300 tickets at $3, the demand for Palace Cinema tickets between the two prices is
A) elastic. B) inelastic. C) marginal. D) unit elastic.
According to your text, controversies about negative externalities are almost always conflicts between the legitimate expectations of citizens and the
A) desire of individuals for greater profits. B) desire of politicians to be reelected. C) legitimate expectations of other citizens. D) mindless urge for more material goods. E) strident demands of environmentalists.
The tables above show the marginal costs and benefits from production of paper. If the market is perfectly competitive and unregulated, the efficient amount of paper will be produced by setting a Pigovian tax of
A) $5 per ton. B) $10 per ton. C) $20 per ton. D) $40 per ton.
Checkable deposits are funds immediately available from all of the following EXCEPT
A. banks. B. savings and loans. C. credit card companies. D. savings banks.