The use of a tariff provides monopoly protection since
A) it allows more imports into the country.
B) it reduces competition from imports by raising the import price.
C) it reduces exporters' profits.
D) it expands tax credits.
Answer: B
Economics
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Constructing the CPI involves which of the following stages? i. conducting the monthly price survey ii. converting the CPI to an international index iii. selecting CPI market basket
A) i only B) ii only C) iii only D) i and iii E) i, ii, and iii
Economics
The change in total revenue that results from employing one more unit of labor is called the
A) wage rate. B) value of marginal product of labor. C) average revenue. D) marginal product of labor.
Economics