A tariff
A. legally specifies maximum import or export ceilings.
B. increases allocative efficiency.
C. is a special tax applied only to internationally traded goods.
D. lowers the prices of imported goods.
C. is a special tax applied only to internationally traded goods.
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When the slope of the total revenue curve is equal to the slope of the total cost curve
A) profit is maximized. B) marginal revenue equals marginal cost. C) the marginal cost curve intersects the total average cost curve. D) the total cost curve is at its minimum. E) Both A and B
According to traditional Keynesians, when the central bank increases the money supply during a recession
A. people will refuse to use the money. B. people will keep most of it in their bank accounts. C. people will borrow more from banks. D. people will spend all of the money on goods and services.
The reason that all-you-can-eat restaurants can make a profit is due to
A. the law of increasing relative costs. B. the law of demand. C. the law of diminishing marginal returns. D. the law of diminishing marginal utility.
If a bond's coupon adjusts to pay a constant real rate of return, then an increase in inflation would cause
A) the nominal coupon payment to rise. B) the nominal coupon payment to fall. C) the nominal coupon payment to remain unchanged. D) the bond's price to fluctuate wildly.