Which term refers to a rule that every imported product must be opened by hand and inspected with a magnifying glass, by one of just three government inspectors available at any given time?
a. a non-tariff barrier
b. a quota
c. a government bureaucracy
d. an import quota
a. a non-tariff barrier
Economics
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Collusion:
A. occurs only when no dominant strategy is present. B. is a cooperative outcome between competitors. C. is observed, but economists cannot theoretically model it. D. is a theoretical concept that is rarely observed.
Economics
Reducing the government's budget deficit will certainly increase economic growth
a. True b. False
Economics
The point of maximum profit for a business firm is where:
a. TR = TC. b. MR = MC. c. P = AC. d. MR = AR.
Economics
Any amount that a bank chooses to keep on hand beyond what it is required to is called:
A. extra holdings. B. excess reserves. C. federal funds. D. excess deposits.
Economics