The primary benefits derived from tariffs usually accrue to the:
A. domestic consumers of goods protected by the tariffs.
B. foreign producers of goods protected by the tariffs.
C. domestic producers of export goods.
D. domestic suppliers of goods protected by the tariffs.
Answer: D
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In the figure above, a price of $15 per dozen roses results in
A) a shortage. B) a surplus. C) equilibrium. D) downward pressure on the price of roses. E) an eventual leftward shift of the demand curve and/or rightward shift of the supply curve.
Which of the following is an example of an in-kind transfer?
a. welfare payments b. most Social Security benefits c. unemployment compensation payments d. food stamps e. charitable contributions
A firm's production function shows the: a. relationship between the inputs and outputs of the firm
b. annual growth rate of revenue of the firm. c. combination of two goods that the firm can produce given its available resources. d. combination of two goods that results in the same amount of profit for the firm.
In 2016, which component of GDP had a negative value?
A) consumption B) investment C) government purchases D) net exports