Which of the following policies would be most likely to reduce the efficiency of a country's economic organization
What will be an ideal response?
imposition of tariffs and other barriers limiting international trade
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While high-paid American workers fear competition with low-paid foreign workers, low-paid foreign workers fear competition with high-paid American workers. Why?
A) Because high wages are the result of extensive tariff and other trade restrictions. B) Because high wages reflect high worker productivity and the low-paid foreign workers are not as productive. C) It is completely irrational and unfounded. D) Because America has such a large market it can protect its workers. E) Because high wages mean that U.S. workers can buy more goods and services.
What links the decisions of consumers and firms in a market?
A) the government B) prices C) coordination officials D) microeconomics
Marge's Beauty Salon sells shampoo and conditioner. Marge has two types of customers. Their willingness-to-pay for shampoo and conditioner are given in the table below
If Marge bundles the shampoo and conditioner, could she increase revenue? Shampoo Conditioner Type I 8 5 Type II 6 8
Consumer spending accounts for what share of GDP?
a. 20% b. 40% c. 70% d. 90%