An example of a nontariff barrier would be:
A. A minimum limit on the quantity of imports
B. Excessive licensing requirements
C. A tax on an imported product
D. Voluntary export restraints
B. Excessive licensing requirements
You might also like to view...
When the price of a good is
A) below the equilibrium price, quantity supplied exceeds quantity demanded and price rises. B) below the equilibrium price, quantity demanded exceeds quantity supplied and price falls. C) above the equilibrium price, quantity supplied exceeds quantity demanded and price falls. D) above the equilibrium price, quantity demanded exceeds quantity supplied and price rises.
Which of the following might explain the beauty premium found by labor economists Hamermesh and Biddle?
a. Good looks are an innate ability for some jobs, which results in higher productivity and higher wages. b. Good looks may be an indirect measure of other types of ability such as attention to detail. c. If better-looking people earn more than average-looking people, employers may be discriminating based on personal appearance. d. All of the above could explain the beauty premium.