If protective import-restricting tariffs are imposed by a country, in the majority of cases that nation's consumers end up
A) paying a higher price for the good than they otherwise would.
B) paying a lower price for the good than they otherwise would.
C) consuming more of the good than they otherwise would.
D) having a higher standard of living than they otherwise would.
A
You might also like to view...
The tables above show the marginal costs and benefits from production of paper. The efficient level of output is ________ of paper
A) 1,600 tons B) 2,400 tons C) 3,200 tons D) 4,000 tons
What is the relation between the unemployment rate and the proportion of unemployed workers who have been unemployed for 15 weeks or longer?
A) Both rise in recessions. B) Both rise in expansions. C) The unemployment rises in recessions but the proportion of unemployed workers who have been unemployed for 15 weeks or longer declines in recessions. D) The unemployment falls in recessions but the proportion of unemployed workers who have been unemployed for 15 weeks or longer rises in recessions.
An option may add value to a transaction because:
a. interest charges are reduced. b. the price of the good is reduced. c. additional information may become available. d. options provide buyers with monopsony power.
The exchange rate £/$ is an example of a:
a. Real, effective exchange rate. b. Real, bilateral exchange rate. c. Nominal, effective exchange rate. d. Nominal, bilateral exchange rate.