Which of the following statements about a tariff and a quota is true?
A) With a tariff the government collects revenues, but not with a quota.
B) With a quota the quantity of imports falls, but not with a tariff.
C) With a tariff the domestic price of the good increases, but not with a quota.
D) With a quota the domestic production of the good increases, but not with a tariff.
E) all of the above
A
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a. Threaten to not tell b. Always not tell c. Threaten to tell d. All of the above
Potential GDP is the output of the economy along a smooth path of growth, without strains on production or unused resources.
Answer the following statement true (T) or false (F)
The Fed
A) distributes Federal Reserve notes, which are paper currency. B) is responsible for conducting U.S. fiscal policy. C) has 15 Federal Reserve banks and governing boards in New York and Chicago. D) is responsible for minting coins.
The fact that most consumers are unable to describe their preferences in terms of a utility function implies that not all consumer preferences can be represented with utility functions
Indicate whether the statement is true or false