Which of the following tools of commercial policy yields a revenue to the government?
a. Quota
b. Tariff
c. Export subsidy
d. Government procurement policy
e. Health and safety standards
b
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If Nike, an American corporation, produces sneakers in Thailand this would
A) count as part of U.S. GDP since it is a U.S. corporation. B) count for both Thailand's GDP and U.S. GDP. C) add to Thailand's GDP but not to U.S. GDP. D) add to neither U.S. GDP nor Thailand's GDP.
Market failure is a term used to describe what happens when market arrangements do not allocate resources efficiently
a. True b. False Indicate whether the statement is true or false
What effect do protectionist policies have on the trade deficit?
The demand for farm goods is income inelastic if the percentage change in quantity demanded is __________ the percentage change in __________
A) greater than; income B) equal to; income C) less than; income D) greater than; revenue E) less than; revenue