In the wake of worsening relations with China, some Americans called for an increase in tariffs on Chinese products coming into America. If higher tariffs are imposed on clothing produced in China, the price of clothing in America would
A) decrease.
B) increase.
C) not change.
D) first increase then decrease.
E) first decrease then increase.
B
You might also like to view...
Portney's research of the 1990 Clean Air Act Amendments (CAAA) finds that MSC exceeds MSB. Based on this finding, one can conclude that
a. the CAAA are allocatively efficient b. TSC exceed TSB c. these amendments are inefficient but cost-effective d. the CAAA over-regulate society
In the absence of environmental protection laws, firms pollute because:
A. business owners do not believe that pollution is a problem. B. controlling emissions costs money, thereby reducing profits. C. business owners follow different norms than do environmentalists. D. the cost pollution imposes on society is small relative to the cost of reducing pollution.
Refer to the information. Average fixed cost is:
Answer the question on the basis of the following information:
Refer to the information provided in Table 33.4 below to answer the question(s) that follow. Table 33.4GermanyChileBeerWineBeerWine(cases)(cases)(cases)(cases)75030 060152412453018 24304512 361560 6 48075 0 60 Refer to Table 33.4. In Germany, the opportunity cost of 1 case of beer is
A. 1/2 case of wine. B. 1 case of wine. C. 2 cases of wine. D. 5 cases of wine.