The United States placed a limit on the amount of cars that can be imported into the United States. This is an example of
A. a tariff.
B. dumping.
C. an export subsidy.
D. a quota.
Answer: D
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In the short run in a perfectly competitive industry,
a. each firm's supply curve is horizontal, but the market supply curve is upward sloping b. the marginal cost curve equals the marginal revenue curve c. the market supply curve is upward sloping because each firm's supply curve is upward sloping d. the market demand curve is the sum of each consumer's marginal revenue curve e. each firm earns only a normal profit
Between 1990 and 2003, college tuition went up 130 percent, which is __________ the increase in the prices of housing, gasoline, and medical care
A) slightly more than B) less than C) about the same as D) considerably more than
Which of the following is true of the production possibilities curve?
What will be an ideal response?
A positive temporary supply side shock will:
A. increase the level of potential output in the long run. B. decrease the price level in the long run. C. increase the price level in the long run. D. have no effect in the long run.