Tariffs and quotas tend to
a. raise prices domestically but make more goods available
b. raise prices domestically and channel more domestic goods into exports
c. raise prices domestically and reduce availability of goods
d. lower prices domestically but reduce availability of goods
e. none of the above
C
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Suppose a senior college football player approaches an insurance company and seeks to purchase an insurance policy against him receiving a career-ending injury. The insurance company
A) will sell him an insurance policy because the proposal entails uncertainty not risk. B) will sell him an insurance policy because the proposal entails risk not uncertainty. C) will not sell him an insurance policy because the proposal entails uncertainty not risk. D) will not sell him an insurance policy because the proposal entails risk not uncertainty.
Which of the following is true along the demand curve for labor?
a. The marginal cost of labor is constant. b. The wage rate is constant. c. The total cost of production is constant. d. The quantity of labor demanded is constant. e. The prices of all other inputs are constant.