This topic contains a solution. Click here to go to the answer

Author Question: The supply curve shows a(n) ________ relationship between price and quantity and is therefore ... (Read 73 times)

joe

  • Hero Member
  • *****
  • Posts: 627
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
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
YES! Correct, THANKS for helping me on my review


recede

  • Member
  • Posts: 315
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Did you know?

Asthma is the most common chronic childhood disease in the world. Most children who develop asthma have symptoms before they are 5 years old.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

For a complete list of videos, visit our video library