Measuring the impact of a quota or tariff on the U.S. economy is an example of ________. Stating that a quota or tariff should be eliminated is an example of ________
A) econometric analysis; protectionism B) positive analysis; normative analysis
C) statistical analysis; economic analysis D) trade analysis; an opinion
B
You might also like to view...
A consumer will consume the combination of goods at the point of tangency between the budget line and the indifference curve.
Answer the following statement true (T) or false (F)
Value added is equal to the value of a firm's production minus
A) all of its costs of production. B) labor costs. C) investment expenditures. D) intermediate goods used in production.
A characteristic found only in oligopolies is
A) break-even level of profits. B) interdependence of firms. C) independence of firms. D) products that are slightly different.
Thailand has a comparative advantage in rice and an absolute advantage in both rice and cell phones. Indonesia has a comparative advantage in cell phones. According to this scenario
A. Indonesia should export rice and import cell phones. B. Thailand should export rice and import cell phones. C. Indonesia should import both cell phones and rice. D. Thailand should export both cell phones and rice.