A tariff is:
a. a duty that a company must pay its own government on exports.
b. the price charged by one country to buyers of a good in another country.
c. a price reduction designed to encourage international trade.
d. a tax on an import.
d
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If the number of employed workers in a country is 6 million, and the size of the labor force in the economy is 8 million, the unemployment rate in the country is:
A) 25 percent. B) 24 percent. C) 8 percent. D) 30 percent.
A lumberjack loses his job because timber cutting restrictions were imposed by the EPA to protect the spotted owl habitat. This lumberjack would be
A) structurally unemployed. B) cyclically unemployed. C) frictionally unemployed. D) seasonally unemployed.
Suppose an economy is in a steady state, then its saving rate falls, once and permanently. As the economy approaches its new long-run steady state, consumption per worker is ________
A) falling B) rising C) unaffected D) either rising or falling
Other factors held constant, a decrease in resource prices will shift the aggregate:
A. demand curve leftward. B. demand curve rightward. C. supply curve leftward. D. supply curve rightward.