Suppose Country A collectively enjoys monopsony power in Good X. If Country A imposes a tariff on the imports of Good X, the world price of Good X will
A. remain unaffected.
B. rise.
C. become equal to the tariff-inclusive price in Country A.
D. fall.
Answer: D
You might also like to view...
The production possibilities frontier is a boundary that separates
A) fair combinations of goods and services that can be consumed from unfair ones. B) the combinations of goods that can be produced from the combinations of services. C) attainable combinations of goods and services that can be produced from unattainable ones. D) affordable production points from unaffordable points. E) equitable combinations of goods and services that can be produced from inequitable ones.
Potential GDP is the level of
A) real GDP that the economy would produce if it was at full employment. B) nominal GDP that the economy would produce if it was at full employment. C) real GDP that the economy would produce if there was no inflation. D) nominal GDP that the economy would produce if there was no inflation. E) real GDP that the economy would produce if there was no unemployment.
What factors affect the demand for money?
What will be an ideal response?
The difference between a capital good and a consumer good depends on
a. the purpose for which it is used. b. how it was produced. c. when it was produced. d. how quickly it is used up.