A tariff is a tax on ________________.
Fill in the blank(s) with the appropriate word(s).
an imported good
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A decrease in the wage rate
A) shifts the firm's demand for labor curve rightward. B) shifts the firm's demand for labor curve leftward. C) leads to a movement along the demand for labor curve but does not shift the curve. D) None of the above answers is correct.
A rational decision maker takes an action if and only if
a. the marginal benefit of the action exceeds the marginal cost of the action. b. the marginal cost of the action exceeds the marginal benefit of the action. c. the marginal cost of the action is zero. d. the opportunity cost of the action is zero.
The Fed's control over interest rates, quantitative easing, and direct lending to financial institutions are some of the tools of
A. fiscal policy. B. margin control. C. monetary policy. D. discount policy.
In the circular flow model, the value of total income for an economy ________ the value of total production
A) equals B) is greater than C) may be greater than or less than D) is less than