The clear winners from the quota are the ________, and the losers are the ________.
A. domestic producers; domestic consumers
B. government; domestic consumers
C. domestic consumers; domestic producers
D. importers; domestic producers
Answer: A
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In the consumer-choice model, the economist examines how the consumer's purchases change when there is a change in prices or income. Which stage of economic analysis is this procedure a part of?
a. Formulation. b. Optimization. c. Equilibrium. d. Economic dynamics.
By using restrictive fiscal policy during the Great Depression, the government improved the economic situation.
Answer the following statement true (T) or false (F)
Refer to the graph below. The supply curve in this event-ticket market is vertical because:
The graph below shows the market for tickets to a "Final Four" sports event. Assume that there is only one kind of ticket to the event.
A. The organizers are selling a fixed number of tickets
B. The organizers are charging a fixed price for the tickets
C. There are a fixed number of buyers in the market
D. The government has regulated the selling of the tickets
Under a system of marketable pollution permits:
A. pollution will increase. B. firms may trade the right to pollute a certain amount. C. firms can only buy the right to pollute from the government. D. the government is not involved.