Author Question: If the tariffs on textiles, apparel items, and footwear mentioned in the Application were replaced ... (Read 146 times)

moongchi · **on:** Jun 29, 2018

If the tariffs on textiles, apparel items, and footwear mentioned in the Application were replaced by equivalent voluntary export restraints (VERs), who would benefit the most?

A) the U.S. government B) high-income consumers
C) low-income consumers D) the foreign manufacturer

Question 2

The figure above shows the market for fast food restaurant employees in a college town in a small nation to the East. The local Taco Bell pays its workers 12 an hour. This wage rate is

A) designed reduce the unemployment rate.
B) an effort to increase the demand for labor.
C) illegal because the equilibrium wage rate is 6 an hour.
D) an efficiency wage aimed at reducing employee turnover.
E) the actual equilibrium wage rate.