If televisions are normal goods, a fall in income will
a. Increase the demand for cars
b. Decrease the demand for cars
c. Have no effect on the demand for cars
d. None of the above
b
Economics
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A tax that is imposed by the importing country when an imported good crosses its international boundary is called
A) an import quota. B) dumping. C) a voluntary export restraint. D) a tariff.
Economics
Refer to Figure 11-1. Technological change is illustrated in the per-worker production function in the figure above by a movement from
A) A to B. B) B to C. C) D to C. D) B to A.
Economics