A tariff is a
A. subsidy to workers harmed by U.S. trade with foreign countries.
B. limit on the quantities of a good that can be imported each year.
C. tax on exports that tends to make them cheaper for foreigners to buy.
D. tax on imports that raises their prices and makes them less attractive to domestic consumers.
D. tax on imports that raises their prices and makes them less attractive to domestic consumers.
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Which of the following statements is true?
A) Cost-benefit analysis does not yield the same result as optimization analysis. B) A rational economic agent is not likely to optimize. C) Cost-benefit analysis can also be used for normative economic analysis. D) The net benefit of an option that costs $50 and provides a benefit of $100 is equal to $150.
Some costs do not vary with the quantity of output produced. Those costs are called
a. marginal costs. b. average costs. c. fixed costs. d. explicit costs.
if the per capita income of a country is growing at 3.5 percent per year, approximately how long will it take for that income to double?
What will be an ideal response?
Assuming the standard migration model is correct, estimates of the cost of moving can be as high as $300,000. What is likely the worst explanation for what this expense is so high?
A. People may place a high cost on leaving family and friends. B. People may place a high utility value on the cultural benefits and assimilation of their current location. C. People may attach a very high utility to the social amenities in one's birthplace. D. Moving companies typically charge tens of thousands of dollars to transport household goods from one location to another. E. The psychic costs of moving, for example, the uncertainty of making friends and adjusting to a new city, may be quite high for some people.