Voluntary restraint agreements are
A) a type of tariff in which the tax is a fixed amount per unit of good imported.
B) a type of tariff in which the tax is based on the value of the good.
C) a type of quota that actually benefits the firms facing the restrictions.
D) a type of quota agreed to "voluntarily" in order to prevent more severe protection of another type.
D
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If a nation is currently operating at a point inside its production possibilities curve, it
A. can increase the output of one good without decreasing the output of the other good. B. has fully employed resources. C. has no inefficiently employed resources. D. is operating at full potential.
If the government increases expenditure by $40 billion and increases tax revenue by $40 billion, what is the impact on aggregate demand? Explain your answer
What will be an ideal response?
The monopsonist's labor supply curve is the same as the:
a. wage rate. b. marginal revenue product curve. c. marginal product curve. d. market labor demand curve. e. market labor supply curve.
Annual design and model changes are a form of nonprice competition.
Answer the following statement true (T) or false (F)