Most tariffs around the world are collected on an ad valorem basis
Indicate whether the statement is true or false
TRUE
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Refer to the figure above. The MSB curve lies to the right of the demand curve because the production of Good Y involves ________
A) positive externalities B) negative externalities C) increasing returns to scale D) decreasing returns to scale
________ increases economic efficiency because it forces firms to produce and sell goods and services as long as the additional benefit to consumers is greater than the additional cost of production
A) Competition B) A centrally planned economy C) Equity D) Voluntary exchange
Concentration of resources on higher rather than basic education in developing countries tends to lead to
(a) greater inequality. (b) lower fertility. (c) less international migration. (d) more job creation.
Kornai argued that transition from socialism to capitalism requires the creation of democracy
a. True b. False