Refer to the figure above. What is the consumer surplus after Barylia opens up to free trade?
A) $75
B) $90
C) $100
D) $125
C
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Shoe-leather costs refer to:
A. the money, time, and opportunity used to change prices to keep pace with inflation. B. the time, money, and effort one has to spend managing cash in the face of inflation. C. being penalized via taxes for making more money in dollars, even though real purchasing power hasn't changed at all. D. labor costs associated with inflation.
With a quota, the __________ is greater than the __________
A) loss in producers' surplus; gain in consumers' surplus B) loss in consumers' surplus; loss in producers' surplus plus higher total revenues on the imported goods C) loss in producers' surplus plus higher total revenues on the imported goods; consumers' surplus D) tax; revenue E) quota-determined price; quota-determined output
Classical and Neoclassical trade theory makes the case that free trade can bring a country to an optimum and economically efficient use of its resources; and hence is an optimal trade-policy, if the objective is maximizing long term economic growth
There are those who argue that the experience of the Asian Miracle countries, such as Taiwan, South Korea and Singapore verify this argument in the real world. Explain. There are others who argue that the experience of these countries cannot be used to verify or support the argument above. Explain.
Under the Gramm-Leach-Bliley Act states retain regulatory authority over
A) bank holding companies. B) securities activities. C) insurance activities. D) bank subsidiaries engaged in securities underwriting.