Which of the following statements best describes a protective tariff?
A. An excise tax that is usually applied to products which are not produced domestically in order to raise revenues for government
B. An excise tax that is designed to put foreign producers at a competitive disadvantage in selling in domestic markets
C. A specification of the maximum amount of a product that may be imported in any period of time which is often used to protect domestic producers of a product
D. Such activities as restricting the issuance of licenses for imported products or setting unreasonable standards for quality or safety in order to restrict imports and protect domestic markets
B. An excise tax that is designed to put foreign producers at a competitive disadvantage in selling in domestic markets
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The unemployment rate equals the number of persons
a. unemployed divided by the number employed. b. unemployed divided by the number in the labor force. c. unemployed divided by the population age 16 and over. d. not working divided by the population age 16 and over.
In the following equation, gdp refers to gross domestic product, and FDI refers to foreign direct investment. log(gdp) = 2.65 + 0.527log(bankcredit) + 0.222FDI (0.13) (0.022) (0.017) ? Which of the following statements is then true?
A. If FDI increases by 1%, gdp increases by approximately 22.2%, the amount of bank credit remaining constant. B. If FDI increases by 1%, gdp increases by approximately 26.5%, the amount of bank credit remaining constant. C. If FDI increases by 1%, gdp increases by approximately 24.8%, the amount of bank credit remaining constant. D. If FDI increases by 1%, gdp increases by approximately 52.7%, the amount of bank credit remaining constant.