Strategic trade policy relies on threats of protectionism to protect free trade
a. True
b. False
Indicate whether the statement is true or false
True
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A lump-sum tax is a(n) ________
A) progressive tax B) regressive tax C) proportional tax D) ordinal tax
Refer to Table 2-6. What is James's opportunity cost of making a tricycle?
A) 2 tricycles B) 3/4 of a wagon C) 1/2 of a wagon D) 1/2 of a tricycle
Unemployment resulting from a mismatch of workers' skills and job requirements is called
A) frictional unemployment. B) structural unemployment. C) seasonal unemployment. D) cyclical unemployment.
Business firms supply goods and services to ________ and purchase factors of production in ________.
A. factor markets; product markets B. factor markets; national markets C. product markets; factor markets D. national markets; factor markets