Which of the following is NOT true about a tariff?
A) It is a barrier to entry in a market.
B) It leads to a natural monopoly.
C) It is a tax.
D) It affects imported goods.
B
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China protected its fledgling auto industry through restrictive tariffs and quotas. What were their effects on the Chinese market?
a. China was able to lower the prices of autos domestically produced and imported. b. China's auto prices from 1995 to 2001 substantially increased. c. China's auto industry really never got off the ground despite high protection. d. China made a decision to import autos from Japan and export autos to the United States.
If Veronica withdraws $1,500 from her checking account and holds it as currency, then M1 will ________ and M2 will ________
A) increase; decrease B) increase; not change C) not change; decrease D) not change; not change