This Application addresses the idea that
A) imports ultimately have a positive impact on all communities.
B) imports have a bigger impact on some communities than on others.
C) imports are only beneficial to a community if they are equally matched by exports from that community.
D) imports have an equal impact on all communities.
B
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A $10 per-unit tax on cell phones raises the equilibrium price paid by consumers by $5. Before the tax, 5,000 cell phones were sold per year. The revenue from the tax is
A) zero. B) positive but less than $50,000 per year. C) $50,000 per year. D) more than $50,000 per year.
The quantity of money in circulation in the United States is managed by
A) The Securities Exchange Commission. B) The United States Treasury. C) The Federal Reserve System. D) Wall Street.