The main purpose of most tariffs and quotas is to
A) reduce the foreign competition that domestic firms face.
B) improve the quality of goods and services imported into the country.
C) raise revenue for the government.
D) reduce the prices consumers pay for goods and services.
A
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Efficiency in a market occurs when the production of the good is such that
A) marginal benefit exceeds marginal cost. B) marginal benefit equals marginal cost. C) marginal benefit is lower than marginal cost. D) the marginal cost stops increasing. E) marginal benefit exceeds marginal cost by the maximum amount possible.
Which of the following is a major reason for offshoring?
a. The gradual diminishing of global technological advances. b. Increased global demand for services. c. Reductions in international trade barriers. d. All of the above are major reasons for offshoring.
A deposit in a financial institution that requires notice of intent to withdraw is a
A. time deposit. B. money market deposit account. C. savings deposit. D. security deposit.
A tax is regressive if it collects a:
A. larger amount as income rises. B. constant amount as income rises. C. smaller fraction of income as income falls. D. smaller fraction of income as income rises.