A tariff is a tax imposed on ________ good.
A. a luxury
B. a domestic
C. an illegal
D. an imported
Answer: D
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If you deposit $300 in your bank and the required reserve ratio is 10%, your bank will have
A) an increase in required reserves of $300. B) an increase in required reserves of $270. C) an increase in required reserves of $3000. D) an increase in required reserves of $30 and an increase in excess reserves of $270.
The World Trade Organization is a successor organization to the
A. International Court of Justice. B. United Nations. C. World Bank. D. GATT.
Which of the following is not a primary cause of business cycle fluctuations, according to real business cycle theory?
A. A change in the money supply B. A change in the size of the labor force C. A change in the real quantity of government purchases D. A change in the production function
The law of diminishing returns implies:
A. The more hours you spend studying the less you will know B. Your understanding will be increased by decreasing your marginal study time C. Eventually, the more hours you spend studying per day, the less you will learn with each added hour D. The more hours you spend studying per day, the more you will learn with each added hour