A tariff is best described as a
A. tax on exported goods.
B. a tax on a good that is imported.
C. payment by the government to domestic producers to improve their competitive position in world markets.
B. a tax on a good that is imported.
You might also like to view...
The three functions of money are medium of exchange,
a. measure of value, and standard of value. b. measure of value, and store of value. c. standard of value, and store of value d. medium of value, and store of value. e. measure of value, and deferred value.
Your bike is worth $100 and if you park it outside at school there is a 25% chance that it will be stolen. Your utility function for money is 
. Assume throughout that the bike value and money are interchangeable since you could sell the bike instantly at its value if necessary. Are you a risk lover, risk neutral or risk averse?
What will be an ideal response?
Bans are applied to:
A. situations where the optimal quantity of consumption is zero. B. reduce the inefficiency created by overuse. C. common-resource problems. D. All of these statements are true.
Recall the Application about the effectiveness of committees in making decisions about monetary policy to answer the following question(s). Recall the Application. The experiment conducted by Blinder showed that the actual process of having committee meetings and discussions:
A. tended to polarize the group into two distinct factions. B. improved the group's overall performance. C. magnified the individual group members' differences. D. related to the average performance of the individual group members.