The imposition of tariffs on imports results in deadweight (triangle) losses. These are
A) production and consumption distortion effects.
B) redistribution effects.
C) revenue effects
D) efficiency effects.
E) distortion of incentives.
E
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Which of the following is an example of a cartel?
a. AFL-CIO b. OPEC c. United Auto Workers Union d. NATO e. Organization of American States
When companies like Uber and Lyft join the ride-share market, what would we most likely expect to see cab drivers do to their prices?
A. Raise prices and advertise more. B. Leave their prices the same. C. Lower prices to stay competitive. D. Lower prices for a while and then raise them again.
Liquidity is defined as
A) the ease with which a given asset can be converted to a store of value. B) the ease with which a given asset can be converted to a unit of account. C) the ease with which a given asset can be converted to a standard of deferred payment. D) the ease with which a given asset can be converted to a medium of exchange.
Purchases of foreign assets by U.S. residents are tabulated in the U.S. balance of payments as a:
a. capital inflow. b. capital outflow. c. current account outflow. d. unilateral transfer.