A countervailing duty is a tariff that is levied to counteract
A) the dumping of goods in the domestic market by foreign firms.
B) a sudden surge of imports which hurt a domestic industry.
C) subsidies given to foreign firms by their own governments.
D) low prices for imported goods that are made in countries with low wages.
C
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If the firm in the figure above is unregulated, it will charge a price of
A) $5 per unit. B) $25 per unit. C) $40 per unit. D) $20 per unit.
If U.S. exports are $150 billion and U.S. imports are $100 billion, which of the following is correct?
a. The U.S. has a trade surplus of $100 billion. b. The U.S. has a trade surplus of $50 billion. c. The U.S. has a trade deficit of $100 billion. d. The U.S. has a trade deficit of $50 billion.
To reach general equilibrium, the price level adjusts to shift the ________ until it intersects with the ________.
A. ND curve; FE line and NS curve B. IS curve; FE line and LM curve C. FE line; LM and IS curves D. LM curve; FE line and IS curve
According to the table shown, when 5 units are produced:
This table shows the total costs for various levels of output for a firm operating in a perfectly competitive market.
A. profits are maximized.
B. profits are positive.
C. the firm is producing less than the profit-maximizing amount.
D. the firm is producing more than the profit-maximizing amount.