Today, the United States charges an average tariff rate

A) that is more than its average tariff rate in 1930.
B) which is greater than any other high-income country.
C) of less than 1.5 percent.
D) that exceeds 50 percent.

Answer: C

Economics

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Refer to Figure 13-7. Which of the following is the area that represents the profit or loss experienced by the firm?

A) a loss represented by the rectangle P2uvP1 B) a loss represented by the rectangle P2uwP0 C) an accounting profit equal to P1vwP0 D) a loss represented by the rectangle P1vwP0

Economics

Paul Romer argues that a key feature of knowledge is

A) divisibility. B) private ownership. C) nonrivalry. D) durability.

Economics