Author Question: The equilibrium price under an import quota is below the price that occurs with free trade. ... (Read 69 times)

abern

  • Hero Member
  • *****
  • Posts: 533
The equilibrium price under an import quota is below the price that occurs with free trade.
 
  Indicate whether the statement is true or false

Question 2

U.S. real GDP
 
  A) measures the change in the price level over time.
  B) precisely measures the improving standard of living in the United States.
  C) excludes the value of underground production and leisure time.
  D) includes the value of underground production but excludes the value of leisure time.
  E) is not as accurate as nominal GDP when measuring standard of living changes over time.



tanna.moeller

  • Sr. Member
  • ****
  • Posts: 328
Answer to Question 1

FALSE

Answer to Question 2

C



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

The types of cancer that alpha interferons are used to treat include hairy cell leukemia, melanoma, follicular non-Hodgkin's lymphoma, and AIDS-related Kaposi's sarcoma.

For a complete list of videos, visit our video library