If a tariff on bikes causes domestic bike prices to rise by 20% and domestic value added in the domestic bike industry to rise by 30%, then
A) the nominal rate of protection of bikes is 20%.
B) the effective rate of protection of bikes is 30%.
C) the effective rate of protection is higher than the nominal rate.
D) All of the above.
D
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Suppose the figure below shows the demand curve, marginal revenue curve and marginal cost curve for a monopolist. 
This monopolist maximizes its profit by producing ________ textbooks per week and charging a price of ________ per textbook.
A. 100; $40 B. 100; $80 C. 150; $40 D. 150; $20
Because of unseasonably cold weather, orange crops were destroyed in Florida. This statement indicates that
A. the demand for apple juice will decrease. B. the amount of orange juice will decrease. C. demand for oranges will necessarily rise. D. equilibrium quantity of oranges will rise.
A monopoly faces an inverse demand curve of P = 100 - 2Q. The marginal cost curve is MC = .5Q. What government price ceiling would represent optimal price regulation?
What will be an ideal response?
The GDP deflator is designed to
a. adjust nominal GDP for changes in the unemployment rate. b. adjust nominal GDP so as to include the problem of externalities. c. adjust nominal GDP for changes in the price level. d. calculate changes in the price of food and other consumer goods.