Which of the following is NOT one of the determinants of the gains of adopting a single currency?
A) A well-synchronized business cycle involving all member countries
B) The possibility of factors of production to freely move across borders
C) The willingness and ability of member countries to design policies to address regional imbalances that may develop
D) Widening the common market by allowing other countries to join
E) None of the above.
D
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A specific tariff provides home producers more protection when
A) the home market buys cheaper products rather than expensive products. B) it is applied to a commodity with many grade variations. C) the home demand for a good is elastic with respect to price changes. D) it is levied on manufactured goods rather than primary products. E) the home supply outnumbers the foreign imports.
For a trucking company, all of the following are examples of fixed costs, except
a. Tax accountant fees b. Package designing fees c. Insurance d. Gasoline costs