Who most clearly gains from a tariff on imports?
a. Consumers in the importing country
b. Producers in the exporting country
c. The government in the exporting country
d. Producers in the importing country
d
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The concerns about world food production raised by Malthus have not materialized because:
A) input prices have fallen over time. B) crop prices have risen over time. C) Malthus was wrong about the diminishing returns to labor in agriculture. D) technological improvements have increased our ability to produce food over time.
Among economists, it is generally believed that
A) the federal budget deficit will be eliminated within 10 years. B) the public debt will be paid off within 10 years. C) entitlement spending will continue to decline. D) the federal government will find it difficult to cut entitlement programs.
Suppose robotic technology improves the results of abdominal surgery—less time to perform the surgery, faster recovery times, and fewer mistakes. What is the impact on the market for abdominal surgery using this new technology?
a. Demand for robot-assisted surgery will increase. b. Hospitals will be slow to adopt the new technology fearing that it may result in lower prices. c. The demand for surgical assistants will increase. d. All of the above.
The main events that can put a bank under stress include all of the following except _________.
Fill in the blank(s) with the appropriate word(s).