Countries that impose high tariffs, exchange rate controls, and other barriers that restrict international trade have, on average,
a. high rates of economic growth.
b. low rates of economic growth.
c. a large export sector.
d. a large import sector.
B
Economics
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In marginal cost pricing, the natural monopoly would have to set price equal to
A) AFC. B) AVC. C) ATC. D) MC.
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A trigger strategy
A) is always a dominant strategy. B) is used to punish the player that reneges on agreements. C) is used to reward the player that never reneges on agreements. D) is a best response whenever all players cooperate.
Economics