A trigger strategy can be used in
A) a single-play game or a repeated game.
B) a single-play game but not a repeated game.
C) a repeated game but not a single-play game.
D) neither a single-play game nor a repeated game.
C
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Taxes levied on imports are called ________
A) embargo B) seigniorage C) quotas D) tariffs
Why do nations often impose trade barriers that make it difficult for their own citizens to trade with people in another country?
A) Trade restrictions improve the efficiency of resource use. B) Trade restrictions are a good way for a country to increase the income levels of its citizens. C) Trade restrictions provide gains to domestic residents at the expense of foreigners. D) Trade restrictions often provide benefits to highly visible special interest groups while imposing a less visible cost on the general populace.