A trade policy that allows a country to gain at the expense of other countries is called
A) countervailing duty policy.
B) a beggar-thy-neighbor policy.
C) an antitrust policy.
D) a dumping policy.
B
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If the marginal social cost exceeds the marginal social benefit for the last pair of shoes produced, then the economy is producing more than the efficient amount
Indicate whether the statement is true or false
One drawback of the patent system is that firms must disclose to the public information about the product or process
Indicate whether the statement is true or false
The nominal (money) rate of interest
a. is the real rate of interest plus the inflationary premium. b. can be expected to decline as inflation accelerates. c. fell to historic lows during the 1970s when the United States experienced double-digit rates of inflation. d. can be expected to increase when the government is running a budget surplus.
A country will have a balance-of- payments surplus when its exchange rate:
A. is undervalued. B. is flexible. C. equals the market equilibrium value. D. is overvalued.