Country A limits other nations' exports of coal to Country A to 1,000 tons of coal annually. This is an example of a(n)
A. export subsidy.
B. voluntary export restriction.
C. protective tariff.
D. import quota.
Answer: D
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If a technological change lowers the wage of unskilled workers, it is an example of:
A) a skill-biased technological change. B) an unskilled-biased technological change. C) a preferential-biased technological change. D) a statistical-biased technological changes.
More goods are available to the average American today than two hundred years ago, but today an American has to work more hours to earn the money to purchase most items
a. True b. False Indicate whether the statement is true or false
Is the call for protection on the basis of "infant industry" valid?
a. No, because protection has no place in industrial development. b. No, protection is always improper. c. Uncertain, economic theory has no answer to this question. d. Yes, although it can be overstated and abused.
The risk-free rate is usually approximated by interest rates on U.S. government debt, because the US government:
A. backs all loans secured with that rate. B. sets all policy concerning interest rates. C. is considered extremely unlikely to default. D. will never default on a loan that it makes.