A country uses strategic trade policy to
A) increase profits that accrue to domestic producers.
B) affect the exchange rate of its currency.
C) impose countervailing duties.
D) allow dumping of imports to increase consumer surplus.
A
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Which of these is a variable cost for a restaurant?
a. Insurance against damages on the rental space b. Rent for dining space c. Wages for the servers d. Tax accountant's salary
An increase in the interest rate, other things constant, will: a. shift the demand for loanable funds curve to the right. b. shift the demand for loanable funds curve to the left. c. decrease the quantity of loanable funds supplied
d. decrease the quantity of loanable funds demanded. e. shift the supply of loanable funds curve to the right.
When a government imposes price controls, the result is that
A) the rationing function of prices is not allowed to function freely. B) the price system operates more efficiently. C) all trades are as mutually beneficial to each party as possible. D) scarcity usually disappears.
The reservation wage is
A) the wage that an employer must pay workers to reduce turnover to a reasonable level. B) the wage that ensures a laid-off individual will wait for re-hire, rather than find another job. C) the lowest wage firms are allowed by law to pay workers. D) the wage offer that will end a labor-strike. E) none of the above