A tariff is
A) a subsidy granted to importers of a vital input.
B) a tax imposed by a government on goods imported into a country.
C) a limit placed on the quantity of goods that can be imported into a country.
D) a health and safety restriction imposed on an imported product.
B
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When Sam's Scarves uses 2 knitting machines and employs 3 people, total revenue is $330 a day. When Sam's Scarves uses 2 knitting machines and employs 4 people, total revenue is $360 a day
The value of marginal product of the third worker is ________. A) $110 B) $30 C) $360 D) $90
An overvalued fixed exchange rate can be maintained only as long as:
A) the country's central bank reserves are available to support currency intervention in the foreign exchange market. B) the country's central bank can increase the domestic money supply. C) the country's government increases debt financing. D) none of the above.