The use of trade barriers to enforce standards abroad raises all of the following concerns EXCEPT
A) the potential deadweight losses in consumption and production at home.
B) the potential for the use of trade barriers to erupt into a bigger trade war.
C) the difficulty of knowing whether some of the concerns are over standards or are veiled protectionism.
D) only small countries may be able to use trade barriers effectively.
D
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Suppose the supply of land is infinitely inelastic and the demand for land is downward sloping but inelastic at the current equilibrium. If the supply curve shifts rightward (e.g
, previously unusable land is cleared for production), what happens to the aggregate economic rents in this market? A) Decrease B) Increase C) Remain the same D) We do not have enough information to answer this question.
When the Fed sells U.S. government securities to a member bank, the immediate effect on that bank's balance sheet is a(n): a. decrease in assets and an increase in liabilities
b. increase in assets and a decrease in liabilities. c. increase in both assets and liabilities. d. decrease in both assets and liabilities. e. change in the type of assets the bank is holding, but no change in liabilities.
Which of the following nations was the world's largest exporter in 2012?
A. Germany B. The United States C. Japan D. China
The figure above shows the situation facing Smart Digit, Inc, a firm in monopolistic competition that produces calculators. The firm's economic profit in the long run is
A) zero. B) $600. C) $900. D) $2,400.