Using trade barriers to address labor standards does all of the following EXCEPT it
A) leads to deadweight losses.
B) redistributes income.
C) works more effectively for countries that are small relative to the total market.
D) potentially makes conditions worse as production moves to the informal sector.
C
Economics
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Which of the following is an example of a sunk cost?
A) The cost incurred in painting a new office space B) The wage paid to workers in a mill C) The cost of raw materials used in a factory D) The cost of electricity used in the office
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Dutiable imports are those on which the government imposes a(n):
A) quota. B) tariff. C) import license fee. D) ban against purchases by U.S. citizens.
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