A recent antidumping case charged Canadian tomato producers with dumping tomatoes on the U.S. market. In order for the United States to impose antidumping duties, Canadian tomatoes must be sold at _______ than their fair value in the United States, and there must be injury to the ________ tomato industry.
a. more; U.S.
b. less; U.S.
c. more; Canadian
d. less; Canadian
Ans: b. less; U.S.
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What is most likely to happen to the cost of owning and operating a golf course in a large city when the population grows?
A) The cost will decline because the course will be used closer to its capacity. B) The cost will not change as long as no attempt is made to enlarge the course. C) The cost will rise because the land will become more valuable for other purposes. D) The cost will rise if the course is privately owned but will be unchanged if the course is municipally owned. E) The cost will vary depending on the amount of competition from other courses.
We would expect, all else equal, that:
A. lower taxes would reduce unemployment. B. higher taxes would reduce unemployment. C. taxes would have no effect on unemployment. D. taxes would be negatively related to unemployment.
A competitive employer should hire additional labor as long as:
A. the MRP exceeds the wage rate. B. the wage rate is less than MP. C. average product exceeds MP. D. MC exceeds MR.
No market economies exist without government involvement and government regulation.
Answer the following statement true (T) or false (F)