In the language of international trade, "dumping" is the act of
A. producing goods without consideration of their environmental consequences.
B. selling goods cheaper than the competition.
C. selling goods below cost so as to drive competitors out of business.
D. selling goods of substandard quality.
Answer: C
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Indicate whether the statement is true or false
If a shift in SRAS results from gains in productivity growth, which are typically measured in terms of a few percentage points per year, the effect will be:
a. relatively small over a few months or even a couple of years. b. relatively large over a few months or even a couple of years. c. relatively small over a few months but larger over a couple of years. d. relatively large over a few months but smaller over a couple of years.
Who does not gain when a tariff is imposed?
a. domestic producers of the good. b. domestic workers in the protected industry. c. domestic consumers of the good. d. domestic suppliers in the protected industry.
A venture capital firm provides which of the following?
a. financial capital to firms that are already successful b. financial capital to bankrupt firms in need of help c. financial capital to ideas that have the potential to be very successful d. financial capital to medium size firms to stay in business