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 64 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
Wow, this really help

carojassy25

  • Member
  • Posts: 299
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

It is widely believed that giving a daily oral dose of aspirin to heart attack patients improves their chances of survival because the aspirin blocks the formation of new blood clots.

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

The meninges. This figure illustrates the location and structure of each layer of the meninges and t The meninges. This figure illustrates the location and structure of each layer of the meninges and t
The relationship between pH, pKa, and the dissociation of an acid The relationship between pH, pKa, and the dissociation of an acid
Treatment of Depression with Ketamine The graph shows the effects of ketamine on symptoms of depress Treatment of Depression with Ketamine The graph shows the effects of ketamine on symptoms of depress
How to determine if a table of values represents a linear or quadratic relationship How to determine if a table of values represents a linear or quadratic relationship
Graph shows the living arrangements of Canadian seniors Graph shows the living arrangements of Canadian seniors
Identify the variable representing each described quantity in the equation Identify the variable representing each described quantity in the equation
Video: Gastroesophageal Reflux Disease (GERD)

For a complete list of videos, visit our video library