A tariff is a tax placed on
a. an exported good and it lowers the domestic price of the good below the world price.
b. an exported good and it ensures that the domestic price of the good stays the same as the world price.
c. an imported good and it lowers the domestic price of the good below the world price.
d. an imported good and it raises the domestic price of the good above the world price.
d
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A monopolistically competitive firm can increase its profits beyond the long-run equilibrium break-even level by deliberately lowering its price to force some of its competitors out of the market
Indicate whether the statement is true or false
Which of the following was not true of the First and Second Banks of the United States?
a. They had branches throughout the country. b. They issued paper money. c. They made loans to private individuals. d. They set the bimetallic ratio.
The advantages of emissions permits over taxes is/are:
a. it reduces undertainty about the quantity of pollution that will be emitted. b. environmental authorities decide on an emissions ceiling in advance of issuing permits. c. pollutants can be limited to levels which do not affect health. d. All of the above are correct.
Which of the following are tools used by the Fed to implement monetary policy?
A. Printing Federal Reserve notes B. Open market operations C. Minting coins D. Regulating banks activities