Assume Congress decides that oil companies are making too much profit and decides to increase the tax on oil companies for each gallon of gasoline produced. This would
A) guarantee a decrease in profits.
B) guarantee an increase in profits.
C) guarantee an increase in tax revenues.
D) None of the above.
D
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In U.S. trade law, the ________ allows for the imposition of restrictions on fairly traded imports that cause or threaten harm to domestic industry
A) escape clause B) countervailing duty C) GATT D) fair trade law
The ________ exchange rate incorporates both the market exchange rate and the product price levels for two countries.
A. real bilateral B. nominal bilateral C. nominal effective D. real effective
Refer to the diagram. A decrease in supply is depicted by a:
A. move from point x to point y.
B. shift from S 1 to S 2 .
C. shift from S 2 to S 1 .
D. move from point y to point x.
What is the most common method of measuring flows of trade?
a. amount of physical items transported between countries b. amount of manufactured items transported by truck c. comparing annual amounts of goods and services exchanged between countries d. comparing exports of goods, services, and financial capital between countries