An increase in domestic demand for a product protected by a quota results in an increase in producer surplus for domestic firms, while for a tariff it would result in more imports
Indicate whether the statement is true or false
TRUE
You might also like to view...
From 1970 to 2007 households held ________ because ________
A) less money relative to income; people began using credit cards less often B) less money relative to income; people began using credit cards more often C) more money relative to income; people began using credit cards less often D) less money relative to income; the price level began to rise E) more money relative to income; people began using credit cards more often
Increasing government taxation or regulation of an industry generally increases the supply of goods
a. True b. False Indicate whether the statement is true or false
When real interest rates are higher in country A than country B, there will tend to be a capital flow from country B to country A
a. True b. False Indicate whether the statement is true or false
The income elasticity of demand for shoes is estimated to be 1.50. We can conclude that shoes:
A. have a relatively steep demand curve. B. have a relatively flat demand curve C. are a normal good. D. are an inferior good.