The United States imposes a tariff on foreign limes. How does the tariff affect the U.S. price of a lime and the production of limes in the United States?
What will be an ideal response?
The tariff raises the price of limes in the United States. As a result of the higher price, U.S. lime production increases.
Economics
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If the interest rate increases, the money demand curve
a. shifts to the right. b. shifts to the left. c. neither shifts nor changes slope. d. gets steeper. e. becomes horizontal.
Economics
"Government failure" is a prominent topic in:
A. public choice theory. B. Keynesian economics. C. socialist theory. D. behavioral economics.
Economics