When the supply curve is flat, a tariff on imported goods
a. always increases the welfare of Americans.
b. always decreases the welfare of American..
c. has no effect on the welfare of Americans.
d. only affects the welfare of Americans if the goods are also made domestically .
b. always decreases the welfare of American..
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The equilibrium quantity of a good will increase and its equilibrium price might rise, fall, or stay the same when
A) its demand and supply both increase. B) its demand increases and supply decreases. C) its demand decreases and supply increases. D) its demand and supply both decrease.
The Celler-Kefauver Act was passed because the Clayton Act had not been effective against mergers
a. True b. False Indicate whether the statement is true or false
Dick owns a dog whose barking annoys Dick's neighbor Jane. Dick receives personal benefit from owning the dog, and Jane bears a cost of Dick's ownership of the dog. Assuming Jane has the legal right to peace and quiet, which of the following statements is correct?
a. If Dick's benefit exceeds Jane's cost, government intervention is necessary. b. Dick will pay to keep his dog if his benefit exceeds Jane's cost. c. If Jane's cost exceeds Dick's benefit, Dick will pay Jane to keep his dog. d. If Jane has the legal right to peace and quiet, no further transactions will be mutually beneficial.
If M = the quantity of money, m the money multiplier, MB the Monetary Base, C = Currency, D = Deposits, R = Reserves, RR = required reserves, and ER = excess reserves, then m would equal:
A. M /MB. B. D - C C. C + D. D. R / ER.