From the perspective of consumers, a quota is preferred to a tariff.
Answer the following statement true (T) or false (F)
False
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The deadweight loss due to a ________ is always smaller than the deadweight loss due to a ________
A) tax on each unit sold; per unit tax on each unit bought B) per unit tax on each unit sold; per unit tax on each unit bought C) tax on each unit sold; lump-sum tax D) lump-sum tax; tax on each unit bought
The Big Mac index is a measure of how well the purchasing power parity theory works
a. True b. False Indicate whether the statement is true or false
If the central bank decreases the money supply, then output
a. and unemployment rises. b. rises and unemployment falls. c. falls and unemployment rises. d. and unemployment falls.
The alternative quantities demanded for a given time period at different possible prices is known as
A) absolute demand. B) a demand schedule. C) real demand. D) constant demand.