A tariff is:
A. an all-out restriction on imports.
B. a tax that government places on imported goods.
C. a government-imposed procedural rule limiting imports.
D. a quantity limitation placed on imports
Answer: B
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If a country lends more to foreign countries than it borrows from foreign countries in a year, then definitely during that year
A) it has a current account deficit. B) it is a creditor nation. C) it is a debtor nation. D) it is a net lender.
International free trade:
A. allows everyone involved to gain surplus. B. may have individual winners and losers of surplus within a country. C. creates surplus only for the producers in a country. D. creates surplus only for the consumers in a country.
From the very beginning of our republic through the 19th century, the overriding and chronic problem we faced was too little currency
Indicate whether the statement is true or false
Very high debt burdens can result in
A) fine tuning. B) automatic stabilizer. C) the structural deficit. D) tax smoothing. E) debt repudiation.