A tax on imports is a(n)
A. tariff.
B. quality barrier.
C. import quota.
D. voluntary import restriction.
Answer: A
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The policy of ________ exacerbated ________ problems as savings and loans took on increasingly huge levels of risk on the slim chance of returning to solvency
A) regulatory forbearance; moral hazard B) regulatory forbearance; adverse hazard C) regulatory agnosticism; moral hazard D) regulatory agnosticism; adverse hazard
If we are going to get the most value from our resources, entrepreneurs should choose the investment alternatives that
What will be an ideal response?
A labor union can increase wages by exercising market power on behalf of workers.
Answer the following statement true (T) or false (F)
Answer the following questions true (T) or false (F)
1. The mercantilist philosophy argues that nations can become rich and powerful by exporting more than they import. 2. Comparative advantage states that a nation will export the foods that it can produce more cheaply than others and import goods that other nations can produce more cheaply. 3. Opportunity costs reflect the cost of a good as measured by the amount of a second good that must be given up in order to produce one additional unit of the first good.