The smaller a country is, the less of an ability it has to export a portion of the burden of an import tariff to other countries.
Answer the following statement true (T) or false (F)
True
Rationale: The smaller a country is, the less able it is to influence the price in other countries by restricting imports -- and thus the more of the price difference that emerges from the trade restriction will be absorbed within the country.
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In the short-run, a temporary increase in the money supply
A) shifts the AA curve to the right, increases output and depreciates the currency. B) shifts the AA curve to the left, increases output and depreciates the currency. C) shifts the AA curve to the left, decreases output and depreciates the currency. D) shifts the AA curve to the left, increases output and appreciates the currency. E) shifts the AA curve to the right, increases output and appreciates the currency.
The Federal Drug Administration slows the pace at which helpful medications reach the marketplace. The alternative of having the medication available to consumers earlier is an example of:
A. the opportunity cost of the Federal Drug Administration's regulation. B. how easy it is to identify and evaluate sunk costs. C. the marginal benefit of the Federal Drug Administration’s regulation. D. promoting consumer health in the population.
Experience goods are products or services
a. that the customer already knows b. whose performance is highly unusual c. whose quality is undetectable when purchased d. not likely to cause repeat purchases e. all of the above
Which of the following statements about featherbedding is correct?
A. It may or may not increase the demand for labor. B. It may or may not increase wages. C. It forces a firm to hire more workers than it needs. D. All of these