Ad valorem tariffs are
A) import taxes stated in ads in industry publications.
B) import taxes calculated as a fixed charge for each unit of imported goods.
C) import taxes calculated as a fraction of the value of the imported goods.
D) the same as import quotas.
E) import taxes calculated solely on the origin country.
C
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The table above gives the utility from pens and pencils. If the consumer has an income of $4, pens cost $1, and pencils cost $.20, which of the following combinations maximizes the consumer's utility?
A) 4 pens and 0 pencils B) 3 pens and 5 pencils C) 3 pens and 6 pencils D) no combination shown
According to the text, when management selects a price or quantity, it also selects the other. Explain why this is true.
What will be an ideal response?
Which of the following would provide a reasonable benchmark for how much you should pay monthly into a "real world" savings account?
What will be an ideal response?
The delay between the time at which a problem is recognized and the time at which a policy to deal with it is enacted is called
A) the impact lag. B) the implementation lag. C) the government lag. D) the recognition lag.