If quota rights accrue to foreigners, then _____.
A) the domestic economy is better off with a quota than with a tariff
B) the domestic economy is worse off with a quota than with a tariff
C) consumer surplus and economic welfare increase
D) production costs decrease
E) part of the decrease in consumer surplus is redistributed to the domestic government
Answer: ?B) the domestic economy is worse off with a quota than with a tariff
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What will be an ideal response?
One result of the public choice model is that most economists believe that
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Assuming that there is an excess supply of money in the classical model, then
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