At the end of World War II,
A) tariffs around the world fell substantially.
B) agricultural subsidies were significantly reduced.
C) most nations began to apply tariffs uniformly across all industries.
D) tariffs increased in low-income countries and fell a small percentage in high-income countries.
A
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The above figure shows a motel engaged in monopolistic competition with other motels. The equilibrium quantity at this motel is ________ rooms per day
A) 200 B) 300 C) 400 D) 500 E) 100
Refer to the above figure. The profit-maximizing price for this firm is
A) P1. B) P2. C) P3. D) P4.
If a consumer purchases only two goods (x and y) and the demand for x is elastic, then a rise in the price of x:
a. will cause total spending on good y to rise. b. will cause total spending on good y to fall. c. will cause total spending on good y to remain unchanged. d. will have an indeterminate effect on total spending on good y.
According to the Economic Freedom of the World measure, between 2000 and 2009 what happened to the economic freedom of the United States?
What will be an ideal response?