There are asymmetric incentives to support and to oppose protectionist trade policies, with the stronger incentives going to those that would seek protection
Indicate whether the statement is true or false
TRUE
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The table above gives Andy's utility from popcorn. Andy's total utility from four boxes of popcorn is
A) 66. B) 70. C) 78. D) 82.
Apply what you have learned about development and development theories so speculate on the following thought experiment: What if anything might be different about today's international economic order if the Spanish had colonized North America and
the English had colonized South America?
In the market for widgets, the supply curve is the typical upward-sloping straight line, and the demand curve is the typical downward-sloping straight line. The equilibrium quantity in the market for widgets is 200 per month when there is no tax. Then a tax of $5 per widget is imposed. The price paid by buyers increases by $2 and the after-tax price received by sellers falls by $3 . The
government is able to raise $750 per month in revenue from the tax. The deadweight loss from the tax is a. $250. b. $125. c. $75. d. $50.
With marginal cost pricing
A. there cannot be any short-run economic profit. B. all opportunity costs will be covered in the short run. C. the price charged is equal to the opportunity cost to society of producing one more unit of the good. D. marginal benefits are usually less than marginal cost.