In which way are tariffs different from quotas?
A) They reduce the volume of imported products.
B) They raise the price of the imported products to consumers.
C) They increase the domestic quantity supplied of the product.
D) They raise government revenue.
D
Economics
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If a purely competitive firm shuts down in the short run:
A. its loss will be zero. B. it will realize a loss equal to its total variable costs. C. it will realize a loss equal to its total fixed costs. D. it will realize a loss equal to its explicit costs.
Economics
If disposable income is $400 billion, consumption spending is $380 billion, and MPC is 0.5, what is the level of saving?
A. $20 billion. B. $210 billion. C. $380 billion. D. $590 billion.
Economics