If the U.S. imposes a quota on cotton, then
a. both exports and imports of other goods will rise.
b. exports of other goods will rise and imports of other goods will fall.
c. exports of other goods will fall and imports of other goods will rise.
d. both imports and exports of other goods will fall.
c
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Which one of the following is not an example of an externality
a. Carbon dioxide emissions from a motor vehicles d. Increased costs of mining iron ore drive up the price of steel b. Acid rain damages wildlife habitat in a region downwind from a factory e. Over-fishing results in the depletion of the food supply of an endangered marine mammal c. A driver enjoys beautiful scenery while driving through a National Forest
In the national income accounting identity Q = C + S + T, T stands for
A) taxes. B) transfers. C) taxes minus transfers. D) taxes plus transfers.