A tariff on imported goods produced by an unlimited industry could benefit the members of the domestic union since the tariff would most likely
A) lower the price of the output that workers purchase.
B) lower the domestic production of the good and increase wages.
C) increase the demand for domestic, union-made goods.
D) decrease the cost of the imported goods.
C
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Which of the following is incorrect? The ill effects of the Great Recession were:
a. Mainly restricted to large financial institutions. b. Mainly restricted to credit markets and had little effect on the real goods market. c. Mainly restricted to the U.S. stock market. d. Felt nationwide and had strong effects internationally. e. All of the above are incorrect.
A jurisdictional dispute occurs when ___________.
Fill in the blank(s) with the appropriate word(s).
When the price of holiday lights increases 4 percent, the quantity supplied increases 3 percent. This example would have a(n) ______ supply curve.
a. equilibrium b. unit c. elastic d. inelastic
Which of these would NOT be considered a middleman in a market?
A. a meat distributor B. a smartphone retailer C. a produce wholesaler D. a rice farmer