Of the following, which group is hurt by a tariff?
A) domestic consumers of the good
B) domestic government
C) foreign government
D) foreign consumers of the good
E) domestic producers of the good
A
You might also like to view...
In a two-good economy, the price of video games is $40 and the price of energy drinks is $2. If the annual output of this economy is 100 video games and 500 drinks, the GDP is ________
A) $50,080 B) $25,200 C) $5,000 D) $20,200 E) none of the above
Poll taxes are:
A. a way to disenfranchise the poor. B. a tax that must be paid in order to cast a vote. C. used to disenfranchise those groups even when the right to vote exists. D. All of these are true.
In thinking about the criteria for an ideal voting system, needing no dictator means:
A. one person cannot have their preferences represented in what voters decide upon. B. one person cannot have the power to enact his or her own preferences. C. those in power must be forced to listen to the will of the people when enacting policy. D. the presence of pure democracy is needed, so everyone gets a vote.
If the equilibrium wage is $4 per hour and the minimum wage is $5.15 per hour, then a shortage of labor will exist
a. True b. False Indicate whether the statement is true or false