Which of the following is most likely to be an objective of export tariffs?
A. Abiding by the rules enforced by the WTO
B. Curbing the competition offered by foreign firms to domestic firms
C. Reducing exports from a sector, often for political reasons
D. Maintaining a positive trade deficit
E. Increasing the flow of capital in the international market
Answer: C. Reducing exports from a sector, often for political reasons
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Indicate whether the statement is true or false
A company faces fixed costs of $100,000 and variable costs of $8.00/unit. They plan to directly sell their product to the market for $12.00. How many units must they produce and sell to break even?
A) 20,000 B) 25,000 C) 40,000 D) 50,000 E) not enough information to calculate