Which statement is false?
A. If we restrict our imports, our exports will decline.
B. Trade restrictions cause economic inefficiency.
C. International finance is based on the gold standard.
D. None of these statements are false.
C. International finance is based on the gold standard.
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A drought in the Midwest will raise the price of wheat because of a
A) leftward shift in the supply curve. B) rightward shift in the supply curve. C) leftward shift in the demand curve. D) rightward shift in the demand curve.
The amount of a good that is given up to produce another good is:
a. its dollar cost. b. its opportunity cost. c. its relative cost. d. its absolute cost. e. all of these.
Double taxation of corporate earnings
a. tends to restrict the activities of corporate firms. b. causes stockholders to earn a lower return than they would on other securities of comparable risk. c. results in more investment in research and development. d. All of the above are correct.
Corrective taxes are typically advocated to correct for the effects of
a. positive externalities. b. negative externalities. c. patents. d. All of the above are correct.