Relative to an environment with free trade and no tariff, the winners from the tariff are the domestic ________, and the losers from the tariff are the domestic ________.
A. producers of sugar and the government; consumers of sugar
B. producers of sugar; consumers of sugar and the government
C. consumers of sugar and the government; producers of sugar
D. consumers of sugar; producers of sugar
Answer: A
You might also like to view...
Under a k-percent rule, if the economy goes into expansion, the Fed would
A) increase the quantity of money. B) raise the federal funds rate. C) lower tax rates to keep revenue constant. D) lower the federal funds rate. E) None of the above answers is correct.
For a perfectly competitive firm, in the long-run equilibrium
A) P = MC = ATC = MR. B) MR = MC = AFC. C) MR = P = ATC = AFC. D) P = MC > ATC.
The New Keynesian transmission mechanism for monetary policy is characterized by
A) helicopter drops of money. B) money having an impact on the real interest rate. C) banks using money injections for business loans. D) the government buying goods with fresh money.
The market value of a good or service is the:
A. price at which it is bought and sold. B. government's valuation using the CPI. C. price at which producers are willing to sell an output. D. None of these statements is true.