A tax on an imported good that raises its price is called a
A. tariff.
B. quota.
C. comparative advantage.
D. comparative disadvantage.
A. tariff.
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When using expert opinion, consumer surveys, test marketing, and price experiments to analyze consumer behavior, managers must consider whether the participating groups are representative of the larger population
Indicate whether the statement is true or false
Match each of the following jobs to its major area: forecasting, analysis, research, or data development. Explain your answers
(a) Economist at university, testing theories about the efficient allocation of resources in the foreign exchange market (b) Economist at Wall Street firm trying to predict the rate of inflation next year using past data (c) Economist at auto firm looking at demand for new automobiles (d) Economist at the International Trade Commission trying to determine whether foreign firms are dumping goods in the United States (e) Economist at the Commerce Department developing new methods for calculating price indexes (f) Economist consulting in Eastern Europe about how to set up free-market financial systems
In a monopolistically competitive market,
A. firms are small relative to the total market. B. no firm has any market power. C. there is easy entry and exit in the market. D. a and b E. a and c
Refer to Figure 13-3. Suppose the economy is at point A. If investment spending increases in the economy, where will the eventual long-run equilibrium be?
A) A B) B C) C D) D