Producers of paper products are most likely to be in favor of
A. Protectionism in the paper product market but free trade in the lumber market.
B. Free trade in the paper product market and the lumber market.
C. Free trade in the paper product market but protectionism in the lumber market.
D. Protectionism in the paper product market and the lumber market.
Answer: A
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Money is best defined as
A) anything that can be sold to pay for something. B) currency. C) anything that is backed by gold. D) anything accepted as a means of payment. E) anything that has value.
Several political leaders have proposed that parents be granted a substantially larger reduction in their annual personal income taxes for each child that they raise. The economic way of thinking indicates that legislation of this type would: a. make it more expensive for parents to provide for their children
b. reduce the value of children to their parents and therefore lead to a reduction in the birth rate. c. reduce the after-tax cost of raising children and therefore increase the birth rate. d. exert no impact on either the cost of raising children or the birth rate since parenting children is a non-economic activity.