Imposing tariffs in cases of dumping
A) is allowed under the WTO agreement.
B) is not allowed under the WTO agreement.
C) is not addressed by the WTO agreement.
D) has never occurred, even though it is allowed under the WTO agreement.
Answer: A
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Refer to Negative Externality. According to a Pigovian analysis of this externality, when a tax of $5 per unit is imposed on the firms in this industry, the external costs created by the firms' production will equal
The following questions refer to the accompanying diagram, which shows the effects of a negative externality created by an industry's production. The equilibrium quantity in the absence of any attempt to internalize the externality is QE, and the optimal quantity according to a Pigovian analysis is QO.
a. area C + D + E + G + H.
b. area C + D + G + H.
c. area C + G.
d. zero.
When the government bans a good:
A. it is attempting to solve the nonexcludability problem. B. it makes acquiring that good illegal. C. the cost of breaking the ban changes the trade-offs consumers face. D. All of these statements are true.
The official unemployment rate may not reflect the true state of unemployment because:
a. part-time employees who want to work more hours are treated the same statistically as those who hold full-time jobs. b. some individuals who want to work may become discouraged and cease actively looking for work c. workers laid off from their jobs and looking for new ones are not counted among the unemployed. d. (a) and (b) only.
To explain the short-run fluctuations in the real-world economies, economists refer to:
A) The combination of unexpected changes in demand and flexible prices B) The combination of unexpected changes in demand and inflexible prices. C) the combination of fully expected changes in demand and inflexible prices. D) the combination of flexible prices and changes in the inventories