Net exports include goods produced
A) domestically that are sold abroad, less goods that are produced abroad that are sold domestically.
B) domestically that are sold abroad, less goods produced domestically that are sold domestically.
C) domestically that are sold domestically, less goods produced domestically that are sold abroad.
D) abroad that are sold domestically, less goods that are produced domestically that are sold abroad.
A
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An increase in the tariff on semiconductors lowers the effective rate of protection of computer producers
Indicate whether the statement is true or false
If a member of a cartel is the first to alert authorities to the cartel behavior, which of the following will occur to this member firm?
A) The firm will face both monetary fines and jail time. B) The firm will not face monetary fines, but its managers will face jail time. C) The firm will face monetary fines, but its managers will not face jail time. D) The firm will not be penalized.
Use the above table. Assuming constant opportunity costs, the opportunity cost of producing a gallon of wine in France is
A) 0.33 pound of beef. B) 0.5 pound of beef. C) 2 pounds of beef. D) 3 pounds of beef.
To the extent that special-interest groups engage in rent seeking, they
a. are guilty of tax evasion b. tend to make the economy more efficient c. support legislation transferring wealth to themselves only if the measure increases the economy's overall efficiency d. shift resources from endeavors that create income to activities that simply transfer income e. tend to increase the economy's total output of goods and services while redistributing income