Consumers in the importing country will tend to favor import quotas over free international trade
Indicate whether the statement is true or false
false
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If a country's merchandise exports exceed its merchandise imports it has a
A) trade surplus. B) trade deficit. C) current account surplus. D) current account deficit.
Golf course developers who buy the land around the golf course they build are attempting to: a. impose external costs on non-consenting third parties. b. internalize external benefits
c. turn a private good into a public good. d. internalize external costs.
Look at the following data: The structural unemployment rate is 4 percent, the natural unemployment rate is 5 percent, and the cyclical unemployment rate is 3 percent. The frictional unemployment rate is ____________ percent and the actual unemployment rate is __________ percent.
a. 2; 7 b. 2; 8 c. 1; 7 d. 1; 8
To correct for the underproduction of products with positive externalities, the government must
A) provide the incentives for the private sector to produce and consume the good. B) provide tougher regulations on the industry. C) increase taxes on the industry. D) fine the industry.