Which of the following is true of a tariff?
a. It is a tax levied by the government on domestic production of goods and services.
b. It is a quantitative restriction on imports imposed by the government.
c. It is a monetary benefit received by exporters from the government.
d. It is a monetary benefit received by importers from the government.
e. It is a tax on import and export levied by the government.
Question 2
When markets reach the ____ price all the opportunities for mutually beneficial trade have taken place and the sum of consumer and producer surplus is ____.
a. minimum, maximized
b. maximum, minimized
c. equilibrium, maximized
d. equilibrium, shared equally between consumers and producers
Wild boar/domestic pig hybrid, displayed at Rothschild Museum, Tring, England
True-color view of Mars seen through NASA's Hubble Space Telescope in 1999
Which of the following statements is true of linkage?
Passage of the “Tariff of Abominations,” 1828
Lilly Martin Spenser’s painting, Domestic Happiness (1844), reflects the change in attitudes toward
QTL mapping in domestic tomato