Import tariffs are ___________ on imports, and import quotas are ____________ on imports.

Refer to Table 2-20. Japan has a comparative advantage in the production of

A) rice. B) wristwatches. C) both products. D) neither product.

If the elasticity of substitution of a production function is equal to zero, then this production function is a

A) linear production function B) fixed proportion production function C) Cobb-Douglas production function D) None of above.