If Japan imposes a tariff on shoes from Argentina, then
a. the price of Argentinean shoes sold in Japan will fall
b. the quantity of Argentinean shoes sold in Japan will rise
c. Japanese shoe producers will benefit
d. Japanese consumers will benefit from lower prices for Japanese shoes
e. Japanese consumers will benefit from lower prices for Argentinean shoes
C
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If the economy is growing beyond potential real GDP, which of the following would be an appropriate fiscal policy to bring the economy back to long-run aggregate supply? An increase in
A) the money supply and a decrease in interest rates. B) taxes. C) oil prices. D) government purchases.
In a perfectly competitive market with 1,000 firms, each demanding 50 laborers at a wage rate of $5 per hour, the quantity demanded of labor by the industry producing for this market at this wage is
a. 25,000 workers b. 50,000 workers c. 250,000 workers d. 5,000 workers e. insufficient information to determine the quantity