finala

Which of the following is a characteristic of tariffs

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Unformatted text preview: need higher prices than last year to sell the same quantity of birdhouses. We can conclude that: a) There has been an increase in demand b) There has been a decrease in demand c) There has been a decrease in the company’s supply d) There has been an increase in the company’s supply 12. When economists talk about “optimal outcomes” in the marketplace, they mean that: a) The allocation of resources by the market is perfect and equal b) All consumer desires are satisfied c) The allocation of resources by the market is likely to be the best possible given the scare resources d) Everyone that wants a good or service can have it, within limits, of economic theory. 13. When a tariff is imposed on a good imported from abroad, a) The demand for the good increases b) The demand of the good decreases c) The supply for the good increases d) The supply for the good decreases 14. Which of the following is a characteristic...
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This note was uploaded on 07/08/2013 for the course ACG 2011 taught by Professor Accounting during the Winter '05 term at BC.

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