A. Where no export duties are levied
B. Where no import duties are levied
C. Where no expert or import duties are levied
D. Where everything can be import or export
Related Mcqs:
- What is Free port ?
A. Where no export duties are levied
B. Where no import duties are levied
C. Where no export or import duties are levied
D. Where everything can be import or export - The normal rate of profit for relatively risk-free firms will be _________ the interest rate on risk-free government bonds?
A. approximately one-half
B. smaller than
C. larger than
D. approximately equal to - Mention the name for that urban and rural region which is closely associated economically with an adjoining town or city. Term is also used to describe the area that is serviced by a port or coastal settlement ?
A. Hinterland
B. Country land
C. Dependent land
D. Parasite land - Which economics doctrine opposes government regulation or interference in commerce beyond the minimum necessary for a free enterprise system to operate according to its own economics laws and non-interference in affairs of others ?
A. Free market economy
B. Laissez faire also Laisser faire
C. Open market economy
D. Liberal market economy - What is more likely to be found in a free market economy than in a planned economy ?
A. an even distribution of income
B. an incentive to innovate
C. a wide range of public goods
D. full employment of labor - Name the system in which the means of production and distribution are privately or corporate owned and development is proportionate to the accumulation and reinvestment of profits which are gained in a free market ?
A. Capitalism
B. Socialism
C. Free market economy
D. Liberalism - If a producer has market power (can influence the price of the product in the market) then free market solutions ?
A. are equitable.
B. are efficient
C. maximize consumer surplus
D. are inefficient - Criticisms against the North American Free Trade Agreement include all of the following except ?
A. wages in the United States will rise relative to Mexican wages
B. American jobs will be lost to workers in Mexico
C. The environment is not adequately protected by NAFTA
D. None of the above - With free trade, suppose that the rest of the world can supply calculators to Canada at a price of $30. Canada’s imports would now equal _____ and its consumer surplus would ____ relative to what occurred in the absence of trade. What is the change in consumer surplus? Refer to the figure that you have plotted ?
A. 20 calculators increase
B. 25 calculators decrease
C. 25 calculators increase
D. 30 calculators increase - The conclusion that free, unregulated markets will produce an efficient outcome breaks down if ?
A. households do not have perfect information
B. firms are not price takers in input markets
C. firms are not price takers in the output market
D. all of the above
