All of the following questions or statements regarding tariffs are positive statements except:
A) Economic models can be used to estimate the dollar amounts gained by the winners from the imposition of a tariff.
B) Economic analysis can, by itself, decide whether a tariff proposal should be enacted.
C) Economic analysis can show the size of the loss of economic efficiency from the imposition of a tariff.
D) Economic models can be used to estimate the dollar amounts lost by the losers from the imposition of a tariff.
Answer: B
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John is a U.S. citizen who bought a house in Canada. This purchase will lead to a(n) ________
A) decrease in the GDP of Canada B) increase in the GDP of Canada C) increase in the GDP of U.S. D) decrease in the GDP of U.S.
Refer to Figure 28-9. Fed Chairman Paul Volcker's response to the ________ of the late 1970s is depicted in the figure above as a movement from C to D to A
A) appreciation of the dollar B) high inflation C) high unemployment D) deflation