Specific tariffs are
A) import taxes stated in specific legal statutes.
B) import taxes calculated as a fixed charge for each unit of imported goods.
C) import taxes calculated as a fraction of the value of the imported goods.
D) the same as import quotas.
E) import taxes calculated based solely on the origin country.
B
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Refer to Figure 7.1. Angus values playing the bagpipes at
A) $100. B) $250. C) $350. D) $700.
Which of the following is not an example of a transfer payment?
A) health insurance payments to an army private B) social security payments to disabled persons C) unemployment insurance payments D) social security payments to retirees
As shown in Figure 7-4, an autonomous decline in expectations of future profitability causes the
a. IS schedule to shift to the left. b. IS schedule to shift to the right. c. LM schedule to shift to the right. d. LM schedule to shift to the left.
A farmer has 200 acres of land on which he can grow soybeans or corn. An acre of land yields 200 bushels of soybeans or 100 bushels of corn. The figure above refers to the farmer’s A) production possibilities curve. B) substitution options curve. C) trade—offs curve. D) opportunity cost curve,