Which of the following is the best example of a tariff?
A) a subsidy from the U.S. government to domestic manufacturers of residential air conditioners to enable them to compete more effectively with foreign producers
B) a limit on the quantity of residential air conditioners that can be imported from a foreign country
C) a $150 fee imposed on all imported residential air conditioners
D) a tax placed on all residential air conditioners sold in the domestic market to help offset the impact of emissions on the environment
Answer: C
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When a manager makes decision then looks for information to justify the decision, it is called
a. implicit favorite model b. bounded rationality model c. econological model d. none of the above
One of the biggest benefits of a market-based economy is
A. centralized planning. B. the ability to adapt quickly to change. C. consumer protection policies. D. government regulation.