A tariff is a tax on imports imposed by the country that is importing the goods.
Answer the following statement true (T) or false (F)
True
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The conventional view among economists is that persistent budget deficits lead to a ________ capital stock and a ________ level of potential GDP in the long run
A) larger; higher B) larger; lower C) smaller; higher D) smaller; lower
In a short-run production process, the marginal cost is rising and the average total cost is falling as output is increased. Thus, marginal cost is
A) below average total cost. B) above average total cost. C) between the average variable and average total cost curves. D) below average fixed cost.
Predatory pricing is:
A. temporarily slashing prices below cost to force competitors out of the market. B. an aggressive business move to maintain market power. C. used to discourage competitors. D. All of these statements are true.
The aggregate production function shows us that increasing the number of workers employed will increase output at a constant rate
a. True b. False