A lump-sum tax per unit on imports is known as

a. a specific tariff
b. an effective tariff
c. a specific quota
d. an effective quota
e. an ad valorem quota


A

Economics

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A quota typically increases the volume of imports, whereas a tariff typically decreases the volume of imports

a. True b. False

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The velocity of circulation is the

A. speed at which the multiplier takes effect. B. speed at which money circulates. C. speed at which tax cuts get spent. D. rate at which money creation takes place.

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Whenever I go to the grocery store, I always stop at Starbucks on the way home. Therefore, going to the grocery store causes me to go to Starbucks. This statement is an example of the

A. ceteris paribus fallacy. B. fallacy of logic. C. fallacy of inductive reasoning. D. post hoc, ergo propter hoc fallacy.

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An example of a standardized good is:

A. digital cameras. B. granola cereal. C. grain. D. hamburgers.

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