An excise tax on an imported good that is not produced domestically is called a:
A. protective tariff.
B. import quota.
C. revenue tariff.
D. voluntary export restriction.
C. revenue tariff.
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If Angelo's Pizza Restaurant has a constant marginal cost of $100 for each additional table in the restaurant and a constant marginal cost of $40 for operating each additional table, what is Angelo's long-run marginal cost per table?
A) $100 B) $60 C) $40 D) $140
A benchmark that banks often use in quoting interest rates to their favored customers is the
A. 3-month Treasury bill rate. B. discount rate. C. prime rate. D. federal funds rate.
Purchasing power parity suggests that the exchange rate between two currencies reflects differences in the overall price levels in the two countries
Indicate whether the statement is true or false
Under perfect competition, the market price is equal to the _____ of a profit-maximizing firm. a. fixed costs
b. marginal costs. c. sunk costs. d. variable costs.