Any restriction of international trade that is accomplished by a quota can also be accomplished by a tariff
a. True
b. False
Indicate whether the statement is true or false
True
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"A decrease in the price of tablet computers will decrease the demand for desktop computers." This statement is an example of a normative economic statement
Indicate whether the statement is true or false
An increase in the real interest rate will
a. increase the inflationary premium. b. decrease the inflationary premium. c. increase the price of current consumption relative to future consumption. d. decrease the price of current consumption relative to future consumption.
A point or product-combination to the left of and inside a budget line:
A. Is attainable, but a combination or point to the right of the line is unattainable B. Is unattainable, but a combination or point to the right of the line is attainable C. Costs more than a combination or point on the budget line D. Costs more than a combination or point outside the budget line
New investors are not attracted to an industry and current ones are not exiting the industry if firms in the industry are
A. earning an accounting profit. B. earning an economic profit. C. breaking even. D. suffering an economic loss.