Trade restrictions tend to make domestic products
A) cheaper because they do not have to compete with foreign goods.
B) cheaper because they do have to compete with foreign goods.
C) more expensive because they have to compete with foreign goods.
D) more expensive because they do not have to compete with foreign goods.
Answer: D
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All of the following actions are potential rule -of-reason violations except which one?
A) a firm's agreement with a customer about the markets in which the customer is allowed to resell the product B) a firm's agreement with a customer about the resale price of its product C) a tying sale with a customer D) an agreement with a competitor firm to divide the market
Microeconomics is the branch of economics in which you study inflation and unemployment in the economy
a. True b. False Indicate whether the statement is true or false
What is one of the concerns of opponents of inflation?
a. Indexing is always partial. b. Indexing is always fair. c. Indexing is sometimes partial. d. Indexing is sometimes fair.
The quantity demanded of an input normally rises as its price rises
a. True b. False Indicate whether the statement is true or false