Which of the following criteria need NOT be satisfied for choosing a policy instrument?
A) The variable must be measurable.
B) The variable must be controllable.
C) The variable must be predictable.
D) The variable must be transportable.
D
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Refer to Figure 2-8. What is the opportunity cost of producing 1 ton of pineapples in Costa Rica?
A) 3/8 of a ton of coconuts B) 2/3 of a ton of coconuts C) 1 1/2 tons of coconuts D) 100 tons of coconuts
"Fair" outcomes and "efficient" outcomes are always identical
a. True b. False Indicate whether the statement is true or false
The supply curve of a one-of-a-kind original painting is
What will be an ideal response?
Governments choose to use voluntary export restraints (VERs) rather than tariffs because
A. voluntary export restraints do not generate any welfare loss in the importing country. B. tariffs more obviously violate the international rules of the World Trade Organization (WTO). C. the increase in the price of the imported good in the domestic market is lower in the case of a VER than a tariff. D. voluntary export restraints have the potential to generate higher revenue.