Using trade barriers to address labor standards does all of the following EXCEPT it
A) leads to deadweight losses.
B) redistributes income.
C) works more effectively for countries that are small relative to the total market.
D) potentially makes conditions worse as production moves to the informal sector.
C
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Refer to the scenario above. The amount of the loan in rupees is ________
A) 10,000 B) 500,000 C) 50 D) 30,000
When tastes are quasilinear, the sole reason for the deadweight loss from a per-unit tax is that output falls under the tax.
Answer the following statement true (T) or false (F)
In 2007, Japan reported that its overseas assets totaled more than $4.6 trillion. This implies that Japan
A) is debtor nation. B) has a current account deficit. C) has a capital account deficit. D) is a creditor nation.
Why is efficiency desirable?
A) It results in an equal distribution of income. B) It results in zero unemployment. C) It makes best use of the finite resources we have. D) It is the most politically popular solution.