Which of the following policies would be most likely to reduce the efficiency of a country's economic organization
What will be an ideal response?
imposition of tariffs and other barriers limiting international trade
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In an open economy, domestic investment equals:
A. domestic saving plus net capital outflows. B. domestic saving. C. net capital inflows. D. domestic saving plus net capital inflows.
If Rita's labor-supply curve is downward-sloping, then for Rita a. an increase in the wage creates an income effect that is greater than the substitution effect. b. an increase in the wage creates a substitution effect that is greater than the income effect. c. leisure and consumption are perfect substitutes
d. leisure and consumption are perfect complements.
Programs that reduce the incentive to work make income redistribution inefficient.
Answer the following statement true (T) or false (F)
A monopolistically competitive firm faces a downward-sloping demand curve because
A) it is able to control price and quantity demanded. B) there are few substitutes for its product. C) of product differentiation. D) its market decisions are affected by the decisions of its rivals.