At one time, most compact trucks (like the Toyota Tacoma) were imported under the classification "cab and chassis with some final assembly needed." These were classified as ___________ with a tariff of ______.
a. complete or unfinished trucks; 4%
b. complete or unfinished trucks; 25%
c. parts of trucks; 25%
d. parts of trucks; 4%
Ans: d. parts of trucks; 4%
You might also like to view...
In a sealed-bid, second-price auction, you should bid
A) your estimate of what others value the good at. B) one dollar more than your estimate of what the second-highest bid will be. C) your highest value. D) the common value of the good.
Suppose your instructor gave hats with your school's logo to half of your economics classmates. She then asked these students to value the hats, and the average response was $9 per hat
Under the endowment effect, we should expect that the average value assigned by the economics students who did NOT receive the hats to be: A) higher. B) lower. C) the same. D) We cannot answer this question without knowing more about the risk preferences of the students.
The Bretton Woods System failed in 1971 due to:
A. high rates of inflation in the U.S. B. the desire on the part of participating countries to have an independent monetary policy. C. greater mobility of capital across international borders. D. all of the reasons given are correct.
Diminishing marginal returns implies
A) decreasing average variable costs. B) decreasing marginal costs. C) increasing marginal costs. D) decreasing average fixed costs.