Which of the following statements is true?
A. A tariff is a physical limit on the quantity of a good allowed to enter a country.
B. An embargo is a tax on an imported good.
C. A quota is a law that bars trade with another country.
D. When a nation exports more than it imports it is running a balance of trade surplus.
Answer: D
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Dr. Goldfinger decides to invest in companies which he believes can "improve the productivity and efficiency" of health care services. What would Dr. Goldfinger need to do to try to achieve allocative efficiency?
A) invest in companies that produce up to the point where the marginal cost of the last unit produced is zero B) invest in companies that produce goods and services based on consumer preferences C) invest in companies that produce goods and services at the lowest possible cost D) invest in companies that fairly distribute their products and services
A $25 government subsidy paid directly to buyers of jeans will result in
a. a downward shift in the demand curve for jeans by $25. b. an upward shift in the demand curve for jeans by $25. c. a downward shift in the supply curve for jeans by $25. d. an upward shift in the supply curve for jeans by $25.