The nominal rate of protection shows the extent to which the domestic price of imported goods exceeds
(a) what the price would be without tariffs.
(b) the cost of intermediate inputs.
(c) the social opportunity costs of the good.
(d) the no-trade equilibrium price.
A
Economics
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According to Keynes, the "stickiness" of wage rates could best be explained by
A) short-term labor contracts. B) minimum wage laws. C) unions and long-term labor contracts. D) government interference.
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Under a fixed exchange rate system, a government is at risk of running out of foreign currency reserves when the country's imports exceed its exports
a. True b. False Indicate whether the statement is true or false
Economics