When tariffs on imports are eliminated, everyone benefits.
Answer the following statement true (T) or false (F)
False
Rationale: The elimination of tariffs will cause prices in one country to increase while they will cause prices in the other country to decrease. Thus, producers in the first country and consumers in the second country benefit, and consumers in the first country and producers in the second country are hurt. (The net benefit increases in both countries -- but there are winners and losers.)
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A person remodeling her house could obtain a loan from a
A) sales finance company. B) consumer finance company. C) business finance company. D) public finance company.
Pricing and output determination under an oligopoly is more complicated than pricing and output determinations in other industries. The primary reason for the complication is the:
a. fewness of firms. b. brand loyalty of consumers. c. powerful effect of advertising. d. variability of concentration ratios. e. mutual interdependence of firms.