Author Question: A new U.S. tariff on Mexican avocados would be likely to: a. raise the price of avocados to U.S. ... (Read 138 times)

lunatika · **on:** Jun 30, 2018

A new U.S. tariff on Mexican avocados would be likely to:
a. raise the price of avocados to U.S. consumers.
b. increase U.S. consumption of domestically produced avocados.
c. increase total U.S. consumption of avocados.
d. do both a. and b.

Question 2

Which of the following is true?
a. Economic reasoning implies that individuals will acquire all possible information about a choice before making it.
b. It is not rational for people to make decisions that could turn out to be mistaken.
c. Reducing information costs to consumers and suppliers could permit more intelligent market decisions and lead to greater satisfaction.
d. Occupational licensing laws generally act to protect misinformed consumers from getting shoddy services and enhances competition, leading to lower prices.