An increase in imports of clothing into the United States from India will benefit the ________ and hurt the
A. U.S. consumers; U.S. clothing producers.
B. U.S. clothing producers; Indian clothing producers.
C. U.S. consumers; Indian clothing producers.
D. Indian consumers; Indian clothing producers.
Answer: A
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The main redistribution effect of a tariff is the transfer of income from
A) domestic producers to domestic buyers. B) domestic buyers to domestic producers. C) domestic producers to domestic government. D) domestic government to domestic consumers. E) foreign producers to domestic consumers.
A nation's economic growth is more rapid when
A) special interest groups acquire the political power to restrict competition. B) capital resources are devoted to their most efficient use. C) there are barriers to establishing legal ownership of capital resources. D) scarce resources are made available for all citizens free of charge.
In 1914, Henry Ford began paying his workers $5 per day, about twice the going wage. As a result, turnover and absenteeism fell and productivity and profits rose
a. True b. False Indicate whether the statement is true or false
In the long run, a monopolistically competitive firm will:
a. produce more than a perfectly competitive firm. b. suffer an economic loss. c. earn positive economic profit. d. produce less than a perfectly competitive firm.