Which of the following is an argument against the idea that tariffs are necessary to protect against dumping?
a. It is difficult to assess whether a country is dumping its products or simply has lower production costs.
b. Products dumped by foreign suppliers are usually outdated and pose no threat to domestic suppliers.
c. It is considered more important to stockpile foreign goods to maintain supply during a war.
d. Tariffs are not needed to counter dumping because environmental laws are in place to punish violators.
a. It is difficult to assess whether a country is dumping its products or simply has lower production costs.
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Refer to the figure above. What is the profit-maximizing price for the monopolist?
A) $3 B) $4 C) $5 D) $6
Because the aggregate supply curve rises more steeply as the economy approaches full employment,
A. The recessionary GDP gap becomes larger. B. Aggregate demand shifts to the left. C. It becomes easier to reach full employment. D. Inflation tends to accelerate.
An increasing-cost industry will have
A. a perfectly elastic long-run supply curve. B. an upward sloping demand curve in the long run. C. a perfectly inelastic long-run supply curve. D. an upward sloping supply curve in the long run.
Suppose you bought a Volkswagen Beetle for 12,000 euros, and $1 would buy 0.90 euros. You would find the cost of the car in dollars and cents by
A. dividing 12,000 by 1.11. B. dividing 1.11 by 12,000. C. dividing 12,000 by 0.90. D. dividing 0.90 by 12,000.