According to the possible trade-off example between warships and drinking water in the text, the policy question that should be considered in Malaysia is
A) do the real costs of the warships exceed their nominal costs?
B) do the opportunity costs of the warships exceed their nominal costs?
C) do the benefits of the warships exceed their opportunity costs?
D) do the nominal costs of the warships exceed their real costs?
C
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Which of the following is an example of a countervailing duty?
A) A tariff is granted because foreign firms are selling below cost. B) A temporary tariff is granted to allow for adjustment of the domestic industry. C) A tariff is granted to an industry because foreign firms are subsidized by their governments. D) A tariff is granted to an industry because another nation persistently uses unfair trade practices.
The Sherman Act prohibits:
a. contracts in restraint of commerce b. monopolization of an industry c. price discrimination d. a and b e. a, b, and c