A tariff is
a. a tax on financial transactions
b. a tax on either imports or exports
c. the result of a treaty
d. a penalty imposed on importers of capital
e. an agreement between countries to limit trade
B
Economics
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The effect of legislation establishing a minimum wage above the market clearing wage is
A) unemployment. B) a shortage of labor. C) higher wages for all workers. D) a shift of the demand for labor curve.
Economics
If nominal GDP is $600 billion and, on the average, each dollar is spent three times per year, then the amount of money demanded for transactions purposes will be:
A. $1,800 billion. B. $600 billion. C. $200 billion. D. $1,200 billion.
Economics