A tariff is a tax that is imposed by the ________ country when an ________ good crosses its international boundary

All points above the budget line are

A) inferior to every point on the budget line. B) preferred to every point on the budget line. C) unaffordable. D) Both answers B and C are correct.

Which of the following statements about a monopoly is FALSE?

A) Monopolies have no barriers to entry or exit. B) The good produced by a monopoly has no close substitutes. C) A monopoly is the only producer of the good. D) None of the above; that is, all of the above answers are true statements about a monopoly.