As a result of the government procurement policy in the U.S.:
a. the domestic consumers are required to pay a higher price than the government for the domestically produced goods.
b. the government wields the sole authority of importing goods from abroad.
c. the government wields the sole authority of exporting goods.
d. the government is required to buy the domestic goods if the domestic price is less than the world price.
e. the government is required to sponsor research and development for the domestic firms.
Question 2
A tariff can be defined simply as a
a. A tariff can be defined simply as a
b. tax on exports.
c. legal limit on imports.
d. legal limit on exports.
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