Suppose the country of Mooland imposes a tariff on imported beef from the country of Aqualand. As a result of the tariff, the
A) price of beef in Mooland falls.
B) quantity of beef exported by Mooland increases.
C) quantity of beef imported by Mooland decreases.
D) quantity of beef imported by Mooland increases.
C
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When a person smokes a cigarette in his car and throws the butt out of the window, this is a(n)
A) marginal cost. B) external cost. C) average total cost. D) public cost.
Which central coordination task has claimed the most attention of central planners?
A. Output selection B. Production planning C. Distribution D. Rationing
In 1960, the most developed economies had _______ the GDP per capita of the poorest economies.
a. 2.4 times b. 4.2 times c. 3.4 times d. 5.4 times
Bill gets medical insurance and then exercises less. Lilly has health concerns and so applies for medical insurance. Identify each of these as moral hazard or adverse selection