Tariffs and import quotas both result in
A) lower levels of domestic production.
B) the domestic government gaining revenue.
C) lower levels of imports.
D) higher levels of domestic consumption.
C
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Refer to Figure a. Charlie and Joe both want to ride shotgun with their mother, so they play a game of rock-paper-scissors to determine who gets to sit in the front seat. In the table, -1 represents a loss, 1 a win and 0 a tie, and Joe's payoff is shown in the upper left-hand corner of each cell, while Charlie's appears in the lower right-hand corner. What is Charlie's dominant strategy?
A. Rock
B. Paper
C. Scissors
D. Charlie does not have a dominant strategy.
Velocity is determined by:
A. the size of the government budget deficit. B. the Federal Reserve. C. payments methods and technology. D. average labor productivity times the population growth rate.
A focus on economic profit
A) will change the behavior of the firm. B) will cause a management turnover. C) will cause stock prices to fall. D) will created on added value.
If at the prevailing interest rate the demand for money is $3 trillion, and the supply of money is $2.5 trillion, then which of the following is true?
a. There is excess money supply, interest rates must fall in order to achieve an equilibrium in the money market. b. There is a shortage of money, interest rates must fall in order to achieve an equilibrium in the money market. c. There is a shortage of money, interest rates must rise in order to achieve an equilibrium in the money market. d. There is excess money supply, interest rates must rise in order to achieve an equilibrium in the money market.