Countries typically establish export restrictions to encourage the development of substitute products.
a. true
b. false
b. false
You might also like to view...
Refer to Figure 18-8 to answer the following questions
a. Did the distribution of income become more equal in 2016 than it was in 2015, or did it become less equal? Explain. b. If area A = 1,900, area B = 450, and area C = 2,650, calculate the Gini coefficient for 2015 and the Gini coefficient for 2016.
Suppose that nominal GDP were $1200 billion in 1990 and $2000 billion in 1995. The implicit GDP deflator was 1.00 in 1990 and 1.50 in 1995. From this we can infer that, between 1990 and 1995
A) nominal GDP rose by 33%. B) prices rose by 66%. C) real GDP remained constant. D) real GDP rose by about 11%.
An import quota is a
a. tax on imports b. legal limit on the amount of a specific good that can be imported into a particular country c. tax on import quantities above the legal limit d. way to increase tariff revenues e. legal incentive for members of GATT to increase their exports of a particular good
As the market price decreases, the slope of the total revenue curve of a perfectly competitive firm becomes steeper
a. True b. False Indicate whether the statement is true or false