Author Question: The higher the world price above the domestic no-trade equilibrium, the lesser the quantity of a ... (Read 137 times)

MGLQZ · **on:** Jun 30, 2018

The higher the world price above the domestic no-trade equilibrium, the lesser the quantity of a good exported by a country.
a. True
b. False
Indicate whether the statement is true or false

Question 2

A U.S. import tariff imposed on steel is likely to:
a. increase employment in the U.S. steel industry.
b. increase the real incomes of steel users.
c. raise the total quantity of foreign and domestic steel sold in the United States.
d. increase employment in the economy as a whole.