Domestic consumers gain and domestic producers lose when the government imposes a tariff on imports

a. True
b. False
Indicate whether the statement is true or false

False

Economics

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Let L represent the quantity of labor, and let Q represent the quantity of output. Suppose a certain production function includes the points (L = 7, Q = 27), (L = 8, Q = 35), and (L = 9, Q = 45). Based on these three points, this production function exhibits diminishing marginal product

a. True b. False Indicate whether the statement is true or false

Economics

In order for a production possibilities curve to shift to the right, which of the following must occur?

A) government involvement B) increasing consumer wants C) economic growth D) reductions in the supply of resources

Economics