If international trade is restricted by the government of a country:
a. the domestic consumers are benefited.
b. the domestic producers are adversely affected.
c. the domestic consumers pay higher prices for imported goods.
d. the resources are equally distributed among domestic and foreign producers.
e. the resources are allocated to their highest paid uses.
c
Economics
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Compared to perfect competition, a monopoly will produce ________ output, and charge a ________ price
A) more; higher B) more; lower C) less; higher D) less; lower
Economics
Assume that product X has a positive cross elasticity with respect to shoes. If the price of shoes rises
A) the demand for product X will decrease. B) the quantity demanded for product X will increase. C) the demand for shoes will fall. D) the demand for product X will increase.
Economics