A key difference between import quotas and voluntary export restraints (VERs) is that the:
A. Domestic government administers the former, whereas the foreign government administers the latter
B. Foreign government administers the former, whereas the domestic government administers the latter
C. One is a tax, whereas the other is a quantity limit
D. One raises the price of the imported product involved, whereas the other one does not
A. Domestic government administers the former, whereas the foreign government administers the latter
You might also like to view...
Which of the following is not a loan of funds?
a. home mortgage b. government bond c. corporate stock d. corporate bond
A monopoly:
A. faces competition from other firms producing close substitutes. B. is a price taker. C. sets a low price by controlling the level of output. D. restricts its output.
A financial intermediary that sells shares in itself to the public, and then uses the funds to buy a wide variety of financial assets is called a:
A. commercial bank. B. mutual fund. C. stock exchange. D. credit union.
The authors note that advertising can make the consumer demand for a product more elastic (price responsive) by expanding the potential range of consumers
As this change in demand occurs (ceteris paribus), what happens to the optimal advertising-sales ratio? A) Increases B) Decreases C) Remains the same D) We do not have enough information to answer this question