Under most circumstances, the application of taxes on goods will only affect who gets the goods
Indicate whether the statement is true or false
False. Taxes will affect which goods are produced, how goods are produced, and who gets the goods.
Economics
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In terms of efficiency, trade diversion is a _____ desirable outcome of a regional free-trade agreement, because trade is diverted from the ___________ producer to the __________ producer .
a. more; high-cost; low-cost b. more; less deserving; more deserving c. less; low-cost; high-cost d. less; foreign; domestic
Economics
To say that isoquants are convex is to say that
A) the marginal rate of technical substitution falls as labor increases. B) capital and labor are perfect substitutes. C) labor, but not capital, is subject to the law of diminishing marginal returns. D) there are constant returns to scale.
Economics