A tariff is a numerical limit on the quantity of a good that can be imported
Indicate whether the statement is true or false
FALSE
You might also like to view...
Open market operations refer to the Fed's transactions with ________
A) households B) private banks C) state governments D) firms
If Ferdinand prefers a Big Mac to a Whopper and a Whopper to a hotdog, but is indifferent between a Big Mac and a Quarter Pounder he must
A. prefer a Quarter Pounder to a hotdog. B. prefer a Whopper to a Quarter Pounder. C. be indifferent between a Whopper and a hotdog. D. be indifferent between a Quarter Pounder and a Whopper.
Suppose that the demand in a particular industry is given by Qd = 500 ? 2P. When the market price in the industry is $50 per unit, total demand in the industry is ________. Furthermore, assume that the entire market consists of four firms that share the market equally. The HHI under these conditions is then ________.
A. 225 units; 3,333.33 B. 400 units; 2,500 C. 400 units; 10,000 D. 225 units; 1,600
Suppose that the wage for musicians increases relative to other occupations. We know that ________ people will work in music, and the total number of hours worked will ________.
A. more; increase B. more; decrease C. fewer; increase D. fewer; decrease