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Author Question: A golf club manufacturer pays its workers based on the number of sets of clubs they produce. This ... (Read 101 times)

xroflmao

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on: Jun 29, 2018
A golf club manufacturer pays its workers based on the number of sets of clubs they produce. This firm
 
  A) organizes production based on an incentive system.
  B) organizes production based on a command system.
  C) does not have any implicit costs.
  D) does not have explicit costs.

Question 2

Give a brief description of the history of tariffs in the United States.
 
  What will be an ideal response?
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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katheyjon

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

Today, U.S. tariffs are low compared to their historical levels. The average U.S. tariff was highest in the early 1930s when the Smoot-Hawley tariff was passed. The average tariff at that time was about 20 percent. Since then there has been a general downward trend so that today the average tariff is less than 5 percent. The downward trend was fairly rapid until 1950 and has slowed since then.


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