Repealing a tariff will likely
A) increase the quantity produced domestically, increase the quantity purchased domestically, and reduce the price charged domestically.
B) reduce the quantity produced domestically, increase the quantity purchased domestically, and reduce the price charged domestically.
C) reduce the amount produced abroad, reduce the price domestically, and reduce the quantity purchased domestically.
D) increase the amount produced abroad, increase the price domestically, and reduce the quantity purchased domestically.
B
You might also like to view...
Moving down along the market demand curve for hot dogs, the
A) maximum price that people are willing to pay for hot dogs increases. B) marginal social benefit of hot dogs decreases. C) marginal social cost of hot dogs increases. D) consumer surplus of the last hot dog consumed increases.
Which of the following is a monetary policy action?
A. Deregulation. B. Changes in transfer payments. C. Open market operations. D. Changes in government spending.
Income taxes are taxes paid on wages and investment income.
Answer the following statement true (T) or false (F)
Refer to the data. Suppose that firms in this industry split up such that there were 100 firms, each with a one percent market share. The four-firm concentration ratio and the Herfindahl index respectively would be:
A. 100 percent and 10,000.
B. 4 percent and 4.
C. 100 percent and 16.
D. 4 percent and 100.