Nontariff measures are generally much more difficult to eliminate than tariffs and quotas because they are embedded more deeply in national economic policies
Indicate whether the statement is true or false
TRUE
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The big-push theory argues that coordination failures may arise because of
a. pecuniary externalities. b. technological externalities. c. lack of human capital. d. all of the above.
When a country specializes and trades with other countries, it is most likely that it specializes in goods for which
A) it has a comparative advantage. B) it has an absolute advantage. C) it has no advantage. D) are very costly to produce.
Equality means distributing society's resources in the most efficient manner
a. True b. False Indicate whether the statement is true or false
Suppose the market consists of 3 individuals: Citizen A, Citizen B and Citizen C.
If the good shown on the graphs is a public good, and the marginal cost of the 20th unit is $10, then the optimal quantity of the public good is:
A. 20 units B. less than 20 units. C. zero. D. greater than 20 units.