Intra-industry trade in differentiated products is negligible between countries that are similar in their general production capabilities.
Answer the following statement true (T) or false (F)
False
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Suppose that in Canada the government places a $1,500 tax on the buyers of new snowmobiles. After the purchase of a new snowmobile, a buyer must pay the government $1,500. How would the imposition of the tax on buyers be illustrated in a graph?
A) The tax will shift both the demand and supply curves to the right by $1,500. B) The tax will shift the demand curve to the left by $1,500. C) The tax will shift the supply curve to the left by $1,500. D) The tax will shift the demand curve to the right by $1,500.
According to the text, today's Lorenz curve is
A) a straight line. B) a vertical line. C) more bowed than in 1929. D) less bowed than in 1929.
The risk-free rate is usually approximated by interest rates on U.S. government debt, because the US government:
A. is considered extremely unlikely to default. B. sets all policy concerning interest rates. C. backs all loans secured with that rate. D. will never default on a loan that it makes.
Firms in monopolistically competitive markets can differentiate their products on the basis of: a. geographical location. b. service
c. credit terms. d. all of the above.