While a large country can either be better off or worse off due to the imposition of a tariff, the same country will necessarily be worse off as a result of imposing an equivalent import quota.
Answer the following statement true (T) or false (F)
False
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Producer and consumer surpluses are measures of:
A. industry performance. B. firm conduct. C. market structure. D. None of the answers are correct.
Sara's Strawberry Market maximizes its total revenue by selling strawberries for $1.25 a basket. At a price of $1.25, you predict that ________
A) the demand for strawberries is inelastic B) Sara's sells most of the strawberries that she grows C) the demand for strawberries is elastic D) the demand for strawberries is unit elastic
If the yield curve slope is flat for short maturities and then slopes steeply upward for longer maturities, the liquidity premium theory (assuming a mild preference for shorter-term bonds) indicates that the market is predicting
A) a rise in short-term interest rates in the near future and a decline further out in the future. B) constant short-term interest rates in the near future and further out in the future. C) a decline in short-term interest rates in the near future and a rise further out in the future. D) constant short-term interest rates in the near future and a decline further out in the future.
What is the difference between actual investment (as defined in GDP) and planned investment?
a. Planned investment does not include unplanned inventory changes; actual investment does. b. There is no difference; they are the same. c. Planned investment does not include depreciation; actual investment does. d. Planned investment includes inventories; actual investment does not. e. Planned investment includes depreciation; actual investment does not.