If the government runs an ad campaign to shame litterers, they are:
A. trying to get individuals to internalize the negative externality created by their decision to litter.
B. using protectionist policy to help the trash-collecting industry.
C. wasting a lot of money.
D. All of these statements are true.
Answer: A
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Refer to Table 7-6. If the actual terms of trade are 1 belt for 1.5 swords and 50 belts are traded, how many belts will Estonia gain compared to the "without trade" numbers?
A) 0 B) 10 C) 40 D) 50
In order to avoid the imposition of other types of trade barriers, foreign producers will sometimes agree to voluntary export restraints. With voluntary export restraints, foreign producers
A) must agree to import an equal quantity of products that they export. B) agree to meet specific quality standards required by the importing country. C) pay a tax on all products they export. D) limit their exports to a country.
A perfectly competitive market is characterized by a large number of small firms that produce a differentiated product
Indicate whether the statement is true or false
Frictional unemployment is often the result of changes in the demand for labor among different firms
a. True b. False Indicate whether the statement is true or false