A rationale used for tariff protection by some is that
A. the country wants to practice international price discrimination.
B. imports are produced by firms that are more efficient than domestic producers are.
C. imports are produced by firms that received subsidies from their governments.
D. the country finds its cost of producing their products higher than in other countries.
Answer: C
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Which of the following is directly accounted for in the calculation of GDP?
A) the value of one hour of leisure as measured by the hourly wage one would otherwise earn by working B) the value of repairing your own kitchen sink as measured by the average rates charged by local plumbers C) cash earnings from an illegal poker game D) improvements in quality of life from the reduction of pollution E) None of the above items is accounted for in GDP.
One of the possible reasons for high sales and steady profit margins of General Motors, Ford, and Chrysler during 1950s and 1960s were aggressive pricing and design innovations
Indicate whether the statement is true or false