In an economy with no income taxes or imports, the marginal propensity to consume is 0.80. The expenditure multiplier is

The effective rate of protection is a weighted average of nominal tariffs and tariffs on imported inputs

It has been noted that in most industrialized countries, the nominal tariffs on raw materials or intermediate components or products are lower than on final-stage products meant for final markets. Why would countries design their tariff structures in this manner? Who tends to be helped, and who is harmed by this cascading tariff structure?

A firm will not choose to produce if total variable costs exceed total revenue.

Answer the following statement true (T) or false (F)