Economists would say tariffs
A. protect domestic producers of exported goods.
B. limit voluntary exchanges.
C. protect foreign producers of goods.
D. protect domestic consumers of goods.
Answer: B. limit voluntary exchanges
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In deciding whether to invest in excess capacity in order to deter entry, incumbents should consider all of the following except
a. the order of play in pricing and capacity choice decisions b. the customer sorting pattern c. the sunk cost required to achieve excess capacity d. the joint-profit-maximizing cartel output e. the potential entrant's projected profitability
Commercial banks in the United States can be chartered
a. by state governments and the federal government b. only by state governments c. only by the federal government d. only by the nationally chartered bank in Washington, D.C. e. only by the Federal Reserve
Hyperinflation is often fueled by ____________ as spending accelerates and production declines
Fill in the blank(s) with the appropriate word(s).
If the rate of inflation is 6 percent, the prime rate of interest is 9 percent, and the unemployment rate is 6 percent, how much is the misery index?
What will be an ideal response?