Australia is a net exporter of wool, free trade will benefit the ________.
A. poor citizens of the Australia
B. domestic producers
C. rich citizens of the Australia
D. domestic consumers
Answer: B
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Of the following, who is harmed by a tariff?
A) domestic buyers of the good or service B) the overall domestic economy C) the foreign exporter of the good or service D) domestic producers of the good or service E) Both answers A and B are correct.
The process of specialization and exchange allows a producer to become
a. proficient in one or a few areas of production. b. proficient in all areas of production. c. self-sufficient. d. independent.
An advantage of a swap over futures and options is that
A) they can be written for long periods. B) they are more liquid. C) they carry less default risk. D) there is no need to assess the creditworthiness of participants.
All of the following are considered a barrier to entry into a market EXCEPT
A) ownership of resources without close substitutes. B) when firms can only earn a normal rate of return in a market. C) economies of scale. D) governmental restrictions on a firm's ability enter a market.