The imposition of tariffs will help a nation attain which of the following goals?
A) decreased domestic consumer prices
B) increased domestic employment
C) increased amount and variety of goods available for consumers
D) increased competition between domestic and foreign producers
E) gains for domestic producers
E
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In 1966, the Catholic Church eliminated the centuries-old requirement that members abstain from eating meat on Fridays. Catholics customarily ate fish on Friday. Given this, economics would predict thatÂ
A. the price of both meat and fish would rise. B. the price of fish would increase and the price of meat would fall. C. the price of fish would decrease and the price of meat would rise. D. the price of both meat and fish would fall.
Government attempts to create a more equitable income distribution by increasing marginal tax rates may do all of the following except
A. Reduce output. B. Reduce government tax receipts. C. Increase unemployment. D. Increase work effort.