The most common type of tariff is the ________ tariff.
A) export
B) import
C) transit
D) ad valorem
B) import
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The table above shows three production methods to produce 100 automobiles per day. Which of the three methods is technologically efficient?
A) Method A only B) Method B only C) Method C only D) Method A, B and C are all technologically efficient.
Refer to the above table. If the price of the good produced is $10 and the wage rate is $500, then the marginal revenue product of the 5th worker is
A) $10. B) $50. C) $750. D) $4,750.
Explain why the willingness to purchase stocks is influenced heavily by shareholders' legal rights with respect to control of the corporation.
What will be an ideal response?
The point on the production possibilities curve that is most desirable can be found by:
A. estimating the marginal costs of both products in real or physical terms. B. comparing marginal benefits and marginal costs. C. determining where least-cost production occurs. D. calculating where economic growth will be greatest.