The consumption effect of a tariff indicates the welfare loss to a country resulting from the domestic consumers shifting from cheaper imports to more expensive local goods.
Answer the following statement true (T) or false (F)
False
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Typically, the unemployment rate ________ during a recession and ________ during an expansion.
A. rises; does not change B. rises; falls C. rises; rises even more D. falls; rises
The purpose of the IMF is to:
A. provide developing countries with short-term loans and technical assistance. B. determine monetary and fiscal policy in developing countries. C. determine exchange rates for developing countries. D. buy and sell the currencies of developing countries in order to stabilize their value.
The demand curve for an individual seller's product in perfect competition is
A) the same as market demand. B) downward sloping. C) vertical. D) horizontal.
The introduction of satellite television systems would cause the demand curve for cable television to be
A) more elastic. B) less elastic. C) perfectly inelastic. D) unchanged.