Which of the following is one of the arguments for tariffs?
a. encouraging dumping
b. protecting against dumping
c. managing exchange rates
d. managing interest rates
b. protecting against dumping
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A monopolistically competitive firm makes positive economic profits if ________
A) price is less than average total cost B) price is higher than average total cost C) price equals marginal cost D) price equals average fixed cost
In the figure above, originally the apartment rental market is in short-run and long-run equilibrium with a rent of $600 per month. Then the government imposes a rent ceiling of $500 per month, which causes a shortage
Suppose that apartments are a normal good and incomes rise. The increase in income A) decreases the shortage. B) has no effect on the shortage. C) increases the shortage. D) raises the rent.
An investment tax credit effectively ________ the user cost of capital, and thus ________ gross investment
A) lowers, raises B) lowers, lowers C) raises, raises D) raises, lowers
Which of the following would not account for the observed wage differential between African Americans and whites in the United States?
a. differences in the quantity of on-the-job training b. differences in the quality of education c. discrimination by employers d. differences in job experience e. differences in access to public assistance programs