Which of the following is NOT an expected benefit of reducing nontariff barriers to trade?
A) Fewer firms to compete with
B) Lower prices for many goods
C) Increase in the volume of exports and imports
D) Increase in production levels
E) Improved overall economic welfare
A
You might also like to view...
The above figure shows the U.S. market for replacement cell phone batteries. Suppose the U.S. government imposes the tariff illustrated in the figure. The tariff is equal to ________ and the price U.S
consumers pay ________ compared to the price paid when there was free trade. A) $2; decreases B) $14; decreases C) $2; increases D) $12; increases E) $14; increases
If households and firms decide to hold less of their money in checking account deposits and more in currency, then initially, the money supply
A) will decrease. B) will not change. C) will increase. D) may increase or decrease.