As a result of U.S. tariffs imposed on wool from New Zealand, the quantity of this wool that is imported has
A) not changed.
B) increased a lot.
C) decreased.
D) increased a little.
E) changed but whether it has increased or decreased is ambiguous.
C
Economics
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The total cost (TC) of producing computer software diskettes (Q) is given as: TC = 200 + 5Q. What is the variable cost?
A) 200 B) 5Q C) 5 D) 5 + (200/Q) E) none of the above
Economics
One of the reasons that import substitution is popular is that
a. there was never any demand for the products in question b. infant industries would have to compete against global rivals c. it benefits suppliers to the favored domestic industries d. it slows down the progression through the production chain e. the emphasis is on comparative advantage and trade expansion
Economics