Nominal rates of protection
A) are always greater than effective rates of protection.
B) are always smaller than effective rates of protection.
C) refer to the tariffs placed on intermediate goods used to make the final good or service.
D) cannot be negative.
D
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Which of the following statements is true?
A. The effect of a compensated price change = the substitution effect of the price change + the income effect of the price change. B. The effect of an uncompensated price change = the substitution effect of the price change - the income effect of the price change. C. The effect of an uncompensated price change = the income effect of the price change - the substitution effect of the price change. D. The effect of an uncompensated price change = the substitution effect of the price change + the income effect of the price change.
At a given price level, an increase in which of the following shifts aggregate demand to the right?
a. consumption b. investment c. government expenditures d. All of the above are correct.
Negative externalities cause loss of welfare not transmitted by market factors.
A. True B. False C. Uncertain
Keynes asserted that wealth was the most important determinant of consumer spending.
Answer the following statement true (T) or false (F)