One difference between a tariff and a quota is that the tariff brings in revenue to the government while the quota benefits the foreign producer who is lucky enough to receive an import license
a. True
b. False
Indicate whether the statement is true or false
True
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When a game is played repeatedly
A) only customers learn. B) customers and firms are both able to learn. C) firms end up colluding. D) a prisoner's dilemma will be the equilibrium.
A $5 tax levied on the buyers of pants will cause the
a. supply curve for pants to shift down by $5. b. supply curve for pants to shift up by $5. c. demand curve for pants to shift down by $5. d. demand curve for pants to shift up by $5.
Historically, our rate of economic growth has been about _____% a year.
Fill in the blank(s) with the appropriate word(s).
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point A to Point E, the opportunity cost of motorcycles, measured in terms of hybrid cars
A. remains constant. B. decreases. C. initially increases, then decreases. D. increases.