Selling a good abroad below the price charged in the home market, or at a price below the cost of production is called
A) dumping.
B) import substitution.
C) a quota.
D) a tariff.
A
You might also like to view...
Refer to Table 14-4. How are the firms in this advertising game caught in a prisoner's dilemma?
A) They are not in a prisoner's dilemma because there is one clear strategy for each. B) They would be more profitable if they refrained from advertising but each fears that if it does not advertise, it will lose customers. C) Only the first mover is caught in a prisoner's dilemma because the second has a chance to observe and respond. D) Since each firm is uncertain about the other's behavior, each will adopt a wait-and-see attitude which results in no increase in market share and no new customers.
The value of currently produced final goods and services measured in constant prices is called:
A) real GDP. B) nominal GDP. C) imputed values. D) inflation.
Which of the following is true in a perfectly competitive market?
a. The sellers can partially influence the price level in the market. b. All firms have identical costs. c. Entry or exit of new sellers into the market is restricted. d. Buyers and sellers have incomplete information about the product and the market.
According to the BLS approximately 8.4 million workers are union members in the private sector and about 7.3 million workers are union members in the public sector.
a. true b. false