A tariff on shoes would lead to:
a. a higher price for shoes for domestic consumers
b. greater sales of shoes at higher prices for domestic producers.
c. lower sales of foreign shoes.
d. all of the above
d
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Suppose the price of flour increases from $0.80 to $1.00 a pound and the quantity demanded decreases from 100 pounds to 95 pounds
Using the midpoint method, what is the price elasticity of demand for flour? Is the demand for flour elastic or inelastic?
An example of a factor of production for Dell is
A) the computers exported by Dell. B) a worker hired by Dell. C) corporate bonds sold by Dell. D) stock issued by Dell.
Through its impact on the desired stock of housing, higher expected income would lead to ________
A) an increase in residential investment B) a decrease in expected house price appreciation C) a decrease in residential investment D) a decrease in single-family dwellings
The Lorenz curve represents: a. the line of perfect inequality
b. the line of perfect equality. c. the nonwage income of households. d. the actual distribution of income.