Which of the following is an effect of a subsidy that encourages exports?
a. The amount of labor used in production is lower.
b. The raw materials needed for production are reduced.
c. The costs of production have been reduced.
d. The opportunity costs of production are lower.
c. The costs of production have been reduced.
Economics
You might also like to view...
Since 1960, which of the following countries had average growth rates in real GDP per person higher than that of the United States?
A) Singapore B) Hong Kong C) South Korea D) All of the above answers are correct.
Economics
Refer to Figure 13-1. Ceteris paribus, an increase in the value of the domestic currency relative to foreign currencies would be represented by a movement from
A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.
Economics