The United States charges
A) the same tariff rates on goods from all countries.
B) lower tariff rates on goods from countries with most favored nation status.
C) low or zero tariffs on goods from certain developing countries.
D) Both B and C.
D
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Which of the following statements is NOT TRUE?
A) AC = AFC + AVC B) C = F + VC C) AVC = wage/MPL D) AFC = AC - AVC
In response to Southern restrictions on the export of cotton in 1861 and 1862,
a. Britain was forced to give financial aid to the Confederate government due to its dependence on Southern cotton. b. Britain provided a naval blockade protecting ships carrying Southern cotton. c. the price of Southern cotton soared, allowing Southern planters to earn substantial profits. d. Britain relied on alternate sources of supply to meet its cotton demand.