Jamaica has a comparative advantage in the production of aluminum, but currently allows no international trade in aluminum. We can conclude that
a. the domestic price of aluminum in Jamaica is higher than the world price for aluminum.
b. Jamaica has an absolute advantage in the production of aluminum
c. Jamaica should import aluminum.
d. the domestic price of aluminum in Jamaica is lower than the world price for aluminum.
d
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Refer to the figure above. What is the deadweight loss of the tariff imposed by the government?
A) $10 B) $20 C) $30 D) $40
A movie shown on a pay-per-view cable station is an example of
A) an excludable and rival good. B) a nonexcludable and rival good. C) an excludable and nonrival good. D) a nonexcludable and nonrival good.
At the time policymakers debated the Trans-Pacific Partnership, the United States imposed ________ on the value of imported shoes and shoe parts
A) tariffs of 1.5 to 12.5 percent B) tariffs of 95 percent C) no tariffs D) tariffs of 25 to 67.5 percent
The principal argument against comparable worth is that the demand and supply of labor in the labor market allocates workers to where they are needed the most
a. True b. False Indicate whether the statement is true or false