Which of the following is not an argument often made for the imposition of trade restrictions?
a. trade restrictions are necessary for national defense purposes
b. trade restrictions are necessary to improve economic efficiency
c. trade restrictions are necessary to protect fledgling industries
d. trade restrictions are necessary to protect against dumping
e. trade restrictions are necessary to protect jobs
B
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A decrease in the price of one good results in a parallel shift in the budget line.
Answer the following statement true (T) or false (F)
A sales tax is imposed on the sellers of gasoline. This tax shifts
A) the supply of gasoline curve leftward. B) the supply of gasoline curve rightward. C) the demand for gasoline curve leftward. D) both the supply curve of gasoline and demand curve for gasoline leftward.
Land is an example of an nonrenewable resource
Indicate whether the statement is true or false
GDP per capita is one way to measure an economy's growth. China and India began to progress when they allowed private ownership, around ____. Since then, there has been steady, strong growth in these economies
a. 1960 b. 1970 c. 1980 d. 1990 e. 2000