Antidumping duties increase overall economic well-being in a country by protecting the domestic import-competing firms.
Answer the following statement true (T) or false (F)
False
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Which of the following is not an advantage of starting a new business as a partnership?
A) The owners have complete control over the business. B) A partnership can easily attain additional funding. C) A partnership has few government rules and regulations to comply with. D) Business profits are only taxed once, not twice.
If long run average costs are constant with respect to output, you have
a. Increasing returns to scale b. Decreasing returns to scale c. Constant returns to scale d. None of the above
Hyperinflation refers to a situation in which:
a. prices are rising extremely rapidly. b. prices are falling extremely rapidly. c. the price level is extremely high. d. the price level is extremely low.
A good that takes up a very large percentage of the consumer's budget will tend to have
a. an elastic demand. b. a perfectly elastic demand. c. an inelastic demand. d. an upward-sloping demand curve. e. very many substitutes.