Quotas are
A. methods for reducing imports by limiting the quantity of goods from a specific country that can enter the country each year.
B. taxes on imports that raise their prices and reduce their attractiveness to domestic buyers.
C. voluntary agreements designed to reduce the harm to firms engaged in foreign trade.
D. subsidies to foreign producers to encourage them to trade.
A. methods for reducing imports by limiting the quantity of goods from a specific country that can enter the country each year.
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The original ‘long box’ packaging of CD’s is an example of
a. a positive production externality c. an envirotech industry b. a negative production externality d. a negative consumption externality
If the wage rate doesn't change but a profit-maximizing competitive firm hires fewer workers, we know that
A) the price of the product increased. B) technical change occurred that increased labor productivity, reducing the firm's demand for labor. C) demand for the product fell or there has been a reduction in labor productivity. D) marginal factor cost increased.
A demand curve shows the relationship between price and quantity demanded only so long as all other things are held constant
a. True b. False Indicate whether the statement is true or false
What is a fair game or fair bet?
What will be an ideal response?