When a country that imports shoes imposes a tariff on shoes, buyers of shoes in that country become worse off and sellers of shoes in that country become better off
a. True
b. False
Indicate whether the statement is true or false
True
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Use the following table to answer the next question.Total ProductTotal Fixed CostTotal Variable Cost0$150$0115050215075315010541501455150200615027071503608150475915062010150800Based on the cost data given, which of the following price-quantity tables correctly represents the firm's short-run supply schedule?(1)(2)(3)(4)PQsPQsPQsPQs$201$200$200$203302300300304453454450455604605600606755756755757956957956958120712081207120915081509150815010
A. Table (1) B. Table (2) C. Table (3) D. Table (4)
In the figure above, which of the following represents a real flow of a factor of production?
A) Labor B) Wages C) Goods bought D) Services sold E) Firms' expenditures on factors of production
According to Keynes, the classical model could not explain
A) a recession or depression. B) periods of rising unemployment. C) a long-term economic decline. D) periods of rising interest rates.
With fixed exchange rates, the imbalance between debits and credits arising from shifts in currency demand and/or supply: a. is accommodated by the market mechanism. b. is accommodated by financial borrowings. c. is accommodated by reserve movements
d. either (b) or (c)