Given the limits of international cartel power, one alternative for a developing country to put upward pressures on the world prices of its primary product exports is to
A. tax its primary-product exports.
B. impose tariffs on primary-product imports.
C. subsidize its manufacturing imports.
D. subsidize its primary product exports.
Answer: A
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The soft drink industry can best be described as:
A) an oligopoly. B) a monopoly. C) perfectly competitive. D) monopolistically competitive.
If a hurricane were to wipe out the majority of the eastern seaboard in the United States:
A. neither the short-run nor long-run aggregate supply curves would be affected. B. only the long-run aggregate supply curve would shift left. C. only the short-run aggregate supply curve would shift left. D. the long-run and short-run aggregate supply curves would both shift left.
Economics is called an empirical science because
A) economists study real-world evidence to test their models. B) economists use assumptions to test their models. C) economic models have no predictive power. D) economic analysis is only useful in a pure market economy.
Tariffs are higher in agriculture than any other sector in most countries
Indicate whether the statement is true or false