For any import quota a country imposes, there exists a tariff the country could have imposed that will have the same impact on producers and consumers.
Answer the following statement true (T) or false (F)
True
Rationale: Regardless of how trade is restricted -- i.e. through taxes or through quotas, the end result is less trade -- which will imply a higher price in the importing country and a lower price in the exporting country.
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On average, collective bargaining increases wages
a. true b. false
Which of the following statements about public education is TRUE?
A. Most of the increases in public spending on public education have gone into programs that have increased student learning. B. Over the last 40 years, there has been a decrease in public spending for public education, while there has not been a significant increase in performance. C. Over the last 40 years there has been no decline in any of the measures of student performance in public education. D. Over the last 40 years, there has been an increase in spending for public education, while there has not been a significant increase in performance.
Which broad field of economics would most likely study how consumers respond to a hike in cigarette taxes?
A. Marginal economics B. Monetary economics C. Microeconomics D. Macroeconomics
An example of a public good is
A. a hardwood forest in a national park. B. a grocery store. C. an orange grove. D. a ticket to a baseball game.