The United States imposes tariffs
A) only on imports.
B) only on exports.
C) on both imports and exports.
D) on imports, exports, and nontraded goods.
A
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Based on the data in the above table, then if opportunity costs are constant, the opportunity cost of producing one cuckoo clock in the United States is ________, and the opportunity cost of producing one cuckoo clock in Switzerland is ________
A) 3 movies; 1.33 cuckoo clocks B) 0.33 movies; 0.67 cuckoo clocks C) 0.67 movie; 1.5 movies D) 1.5 movies; 0.67 movie
Other things the same, if the U.S. price level rises, then
a. the supply of dollars in the market for foreign-currency exchange increases, so the exchange rate rises. b. the supply of dollars in the market for foreign-currency exchange increases, so the exchange rate falls. c. the supply of dollars in the market for foreign-currency exchange decreases, so the exchange rate rises. d. the supply of dollars in the market for foreign-currency exchange decreases, so the exchange rate falls.
Which of the following explains why managers of government agencies have little incentive to achieve operational efficiency?
What will be an ideal response?
International trade does all the following except
a. allow a country to specialize in producing certain goods and services b. reduce world output c. increase world output d. allow a country's consumption possibilities frontier to lie outside its production possibilities frontier e. allow a country to move to a higher consumption possibilities frontier