A tariff will benefit
A) domestic producers by maintaining a higher than free-trade price.
B) foreign producers by allowing them to sell at a higher price in markets with tariffs.
C) consumers who are able to better afford domestically produced goods.
D) All of the above answers are correct.
A
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A raise in the price of a product causes _____.
(A) A decrease in supply. (B) An increase in demand. (C) A decrease in competition. (D) An increase in competition.
___________ said that a person pursuing his own interest, "frequently promotes that of society more effectively than when he really intends to promote it."
Fill in the blank(s) with the appropriate word(s).
“A major reason the economy of the former Soviet Union collapsed was due to a lack of incentives that are provided by the profit system.” Evaluate
Please provide the best answer for the statement.
Under a flexible exchange rate system, an increase in the value of the U.S. dollar in terms of other currencies is referred to as
A. a monetizing of the U.S. dollar. B. a depreciation of the U.S. dollar. C. an appreciation of the U.S. dollar. D. a devaluation of the U.S. dollar.