This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The supply curve shows a(n) ________ relationship between price and quantity and is therefore ... (Read 89 times)

joe

  • Hero Member
  • *****
  • Posts: 627
on: Jun 29, 2018
The supply curve shows a(n) ________ relationship between price and quantity and is therefore ________ sloping.
 
  A) direct; downward
  B) direct; upward
  C) inverse; downward
  D) inverse; upward

Question 2

Explain the difference between a tariff and a quota. What impact do tariffs and quotas have on the prices of domestic and imported goods?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

al

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

A tariff is a tax imposed by government on imported goods. A quota is a limit on the number of imported goods allowed into a country. Tariffs and quotas raise prices for both domestic and imported goods.


joe

  • Member
  • Posts: 627
Reply 2 on: Jun 29, 2018
:D TYSM

isabelt_18

  • Member
  • Posts: 342
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Went and Briggs demonstrated the relationship between light perception and auxin function. Went and Briggs demonstrated the relationship between light perception and auxin function.
The human oxygen-hemoglobin dissociation curve. The human oxygen-hemoglobin dissociation curve.
Relationship between body size and seed size in Galapagos finch species Relationship between body size and seed size in Galapagos finch species
Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896 Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
The end of a typical line wrench, which shows that it is capable of grasping most of the head of ... The end of a typical line wrench, which shows that it is capable of grasping most of the head of ...
Percentage of Americans Living in Communities with a Fluoridated Water Supply, by State. 2012 Percentage of Americans Living in Communities with a Fluoridated Water Supply, by State. 2012
Video: Labor and Childbirth - The Three Stages of Labor: Dilation, Expulsion & Placental مراحل الولادة

For a complete list of videos, visit our video library