Which of the following is an example of a nontariff or non-quota barrier?
A. The voluntary restraint agreement that limits imports of autos to the United States from Japan
B. A limit on the import of textile products from China
C. The use of extensive custom checks on product quality
D. A $5.00 per case tax on imported wine
C. The use of extensive custom checks on product quality
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Markets can efficiently handle irreversible decisions without involvement of government.
Answer the following statement true (T) or false (F)
The labor pool effect of globalization has which of the following effects?
A. The supply of labor for many kinds of work increases, pushing the equilibrium wage down. B. The overall number of workers employed falls. C. The labor force participation rate declines. D. The demand for labor for many kinds of work increases, pushing the equilibrium wage up.
The SNAP program is financed through
A. the income tax. B. a payroll tax. C. general revenues. D. private insurance contributions.
The figure above illustrates a small country's production possibilities frontier. Moving from point A to point B, the per unit opportunity cost of a tablet is ________ per tablet
A) 2 computers B) 4/3 of a computer C) 100 computers D) 1/2 of a computer E) 1 tablet