The Constitution of the United States grants ________ the authority to regulate commerce and to impose tariffs
A) Congress
B) the President
C) the Supreme Court
D) the U.S. Trade Representative
A
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The causes of prosperity that link high levels of prosperity to high levels of inputs of production, without explaining why the levels of those inputs are high, are referred to as:
A) fundamental causes of prosperity. B) implicit causes of prosperity. C) proximate causes of prosperity. D) explicit causes of prosperity.
The cross-price elasticity of demand is measured by the
a. change in quantity demanded of one good divided by the change in price of another good b. percentage change in quantity demanded of one good divided by the percentage change in its price c. percentage change in demand for one good divided by the percentage change in income d. percentage change in quantity supplied of one good divided by the percentage change in the price of another good e. percentage change in quantity demanded of one good divided by the percentage change in price of another good
A primary determinant of market structure is the number of producers in a market
Indicate whether the statement is true or false
A firm that is earning zero economic profit should go out of business
a. True b. False Indicate whether the statement is true or false