Tariffs or quotas on an imported product:
A. Hurt domestic producers of the product
B. Hurt domestic consumers of the product
C. Hurt foreign consumers of the product
D. Benefit foreign producers of the product
B. Hurt domestic consumers of the product
You might also like to view...
Alan Jones owns a company that sells life insurance. When he employs 10 salespersons his firm sells $200,000 worth of contracts per week, and when he employs 11 salespersons, total revenue is $210,000 . The marginal revenue product of the 11th salesperson is:
a. $410,000. b. $10,000. c. $20,000. d. $210,000.
If a 1% change in price leads to a 2% change in quantity demanded, then the elasticity of demand is
A. 0.5. B. 1.0. C. 1.5. D. 2.0.
According to Romer
A. ideas drive economic growth. B. capital drives economic growth. C. invention drives economic growth. D. government drives economic growth.
One way that the government encourages the production of a good with positive externalities is to offer
A) an effluent fee. B) a market to pollute. C) a subsidy. D) a pollution tax.