Which is the most accurate statement?
A. If most economists had to choose between a tariff and a quota, she or he would choose a tariff as the lesser of two evils.
B. Both tariffs and quotas are basically good for our economy because they keep out foreign imports.
C. Tariffs and quotas are equally bad for our economy.
D. Most economists prefer import quotas to tariffs.
A. If most economists had to choose between a tariff and a quota, she or he would choose a tariff as the lesser of two evils.
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MacDougall showed in his tests that
A) relatively higher U.S. labor productivity was associated with relatively higher U.K. export ratios. B) relatively higher U.K. labor productivity was associated with relatively higher U.K. export ratios. C) labor productivity ratios and export ratios were not associated with each other. D) None of the above.
Probably the simplest approach to the problem of oligopolistic interdependence is to
a. conduct market experiments. b. assume that rivals will pursue a course most detrimental to the firm concerned. c. ignore the actions of rivals. d. increase the firm's advertising outlay considerably.
In the above table, the marginal cost of the fourth unit is
A. $6.00. B. $1.00. C. $24.00. D. $2.00.
An investment should be undertaken if the present value of an expected stream of earnings from the investment exceeds the cost of the investment necessary to undertake it.
Answer the following statement true (T) or false (F)