The political wisdom of choosing a tariff acceptable to the median U.S. voter is
A) a good example of the principle of the second best.
B) a good example of the way in which actual tariff policies are determined.
C) a good example of the principle of political negotiation.
D) not evident in actual tariff determination.
E) usually evident in actual tariff determination.
D
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A monopoly is characterized by all of the following except
A) the firm has market power. B) there are no close substitutes to the firm's product. C) there are only a few sellers, each selling a unique product. D) entry barriers are high.
Suppose a presidential candidate promises to increase the government budget surplus and claims that doing so will stop U.S. citizens from investing in foreign companies and increase the value of the dollar. Evaluate this candidate's promise