Tariffs are ________
A) taxes levied on goods imported into the United States
B) levied by state and local governments
C) the primary source of federal revenues
D) taxes on goods exported from the United States
A
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Refer to Figure 2-4. A movement from X to Y
A) is the result of advancements in plastic production technology only, with no change in food production technology. B) could be due to a change in consumers' tastes and preferences. C) is the result of advancements in food production technology only, with no change in the technology for plastic production. D) could occur because of an influx of immigrant labor.
Suppose that a market basket of two goods is changed by adding more of one of the goods and subtracting one unit of the other. The consumer will:
A) rank the market basket more highly after the change. B) rank the market basket more highly before the change. C) rank the market basket just as desirable as before. D) any one of the above statements may be true.