An increase in imports of clothing into the United States from India will benefit the ________ and hurt the
A. U.S. consumers; U.S. clothing producers.
B. U.S. clothing producers; Indian clothing producers.
C. U.S. consumers; Indian clothing producers.
D. Indian consumers; Indian clothing producers.
Answer: A
Economics
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A price ceiling, such as a rent ceiling
A) always results in a surplus. B) always results in a shortage. C) results in a surplus if the ceiling price is less than the equilibrium price. D) results in a shortage if the ceiling price is less than the equilibrium price.
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The aggregate production function is Y = 5KL. If there are 18 units of capital and 50 units of labor, aggregate output is
A. 4,500 units. B. 4,270 units. C. 3,820 units. D. 340 units.
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