Suppose the Ivory Coast, a small country, imports wheat at the world price of $4 per bushel. If the Ivory Coast imposes a tariff of $1 per bushel on imported wheat, then, other things equal, the price of wheat in Ivory Coast will increase, but by less than $1
a. True
b. False
Indicate whether the statement is true or false
False
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Pizza Hut pizza has more close substitutes than does food in general. The price elasticity of demand for Pizza Hut pizza is ________ the price elasticity of demand for food in general
A) not comparable to B) greater than C) less than D) the same as
The type of policy that involves interest rates and the availability of loanable funds is known as:
A) fiscal policy. B) monetary policy. C) strategic financial policy. D) federal policy.
When people want to hold money to make regular planned expenditures, this is
A) the transaction demand for money. B) the asset demand for money. C) the precautionary demand for money. D) the spending demand for money.
"Trade restrictions will stop foreign imports, which will increase American employment and protect American jobs." Most economists realize this argument is wrong. Can you explain why?