Trade restrictions cause
A. higher prices.
B. economic inefficiency.
C. both higher prices and economic inefficiency.
D. neither higher prices nor economic inefficiency.
C. both higher prices and economic inefficiency.
You might also like to view...
For a common resource, the marginal private cost curve slopes ________ and the marginal social cost curve slopes ________
A) upward; upward B) upward; downward C) downward; upward D) downward; downward
Which of the following is a potential barrier to entry?
a. a low market price b. a high market price c. a standardized product d. economies of scale e. diminishing marginal productivity
Which of the following statements is false?
A) Activists are more likely to advocate fine-tuning the economy than nonactivists. B) Activists believe that monetary and fiscal policies can be and should be deliberately used to smooth out the business cycle. C) Nonactivists believe that monetary and fiscal policies cannot and should not be deliberately used to (try to) smooth out the business cycle. D) Nonactivists favor rules-based monetary policy. E) none of the above
The graph of two variables, x and y, is a horizontal line. This result indicates that x and y are
A) positively related. B) negatively related. C) not related. D) falsely related.