Non-tariff barriers are tools that countries use to restrict trade such as regulatory or legal barriers or slow processing of goods at borders.
Answer the following statement true (T) or false (F)
True
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In the law of torts, what is meant by a negligence standard? How does a negligence standard promote economic efficiency? How can it lead to less-than-efficient outcomes?
What will be an ideal response?
When there is a threat of inflation in the economy, the Fed can ________ the federal funds rate to ________ aggregate demand and ________ the price level
A) raise; decrease; decrease B) lower; increase; increase C) lower; increase; decrease D) raise; increase; decrease E) raise; decrease; increase
You're called in as a consultant: Price is $24 . At a production level of 200 units, MC = MR, AFC = $6, and AVC = $16 . What do you advise this firm to do?
a. Increase output. b. Decrease output. c. Shut down operations. d. Stay at 200 units; the firm is earning $400 profit. e. Stay at 200 units; the firm is minimizing losses of $200.
The demand curve depicts quantities demanded that have been gathered as prices have changed over time
a. True b. False Indicate whether the statement is true or false