A tariff has one distinct advantage over a quota. It increases tax revenues to the government.
Answer the following statement true (T) or false (F)
True
You might also like to view...
Given a fixed upsloping AS curve, a rightward shift of the AD curve will ________.
A. increase both the price level and real output B. cause cost-push inflation C. increase the price level but not real output D. increase real output but not the price level
If a firm's output less than doubles when all inputs are doubled, production is said to occur under conditions of
A) increasing returns to scale. B) imperfect competition. C) intra-industry equilibrium. D) constant returns to scale E) decreasing returns to scale.
Some argue that many countries have observed the experience of other countries that have grown more quickly and have ______________ it.
a. collapsed because of b. learned from c. settled because of d. stalled because of
In perfect competition:
a) Short run supernormal profits are competed away by firms leaving the industry. b) Short run supernormal profits are competed away by firms entering the industry. c) Short run supernormal profits are competed away by the government. d) Short run supernormal profits are competed away by greater advertising.