In today's world, many countries impose tariffs
A) only on imports.
B) only on exports.
C) on both imports and exports.
D) on imports, exports, and nontraded goods.
C
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Lee, J Brand, Joe's Jeans, Paper Denim & Cloth, Levi's, Wrangler, and many others are all producers of jeans. In what type of market does Lee operate?
A) monopolistic competition B) monopoly C) oligopoly D) perfect competition
Refer to Table 2-9. What is Serena's opportunity cost of making a bracelet?
A) 2 necklaces B) 3/4 of a bracelet C) 1/2 of a necklace D) 1/2 of a bracelet
The elasticity of demand for a normal good: a. is often higher in the short run than in the long run. b. is often lower in the short run than in the long run. c. is the same in the short run as in the long run
d. is zero in the short run and infinite in the long run.
Which of the following is NOT a major foreign exchange center?
a. London b. New York c. Tokyo d. Chicago