Advocates of steel tariffs to protect U.S. steel firms realize that when imposing such tariffs, the gains of firms are outweighed by the losses to consumers. This implies that
A) such advocates value producer surplus more than consumer surplus.
B) such advocates want to help consumers.
C) such advocates value consumer surplus more than producer surplus.
D) such advocates value producer surplus and consumer surplus equally.
A
You might also like to view...
The amount of time that it takes to identify a national economic problem is
A) the effect time lag. B) the action time lag. C) the recognition time lag. D) fiscal policy.
What is the relationship between individual supply and market supply?
What will be an ideal response?
In Figure 17-3 above, suppose we are working under the assumption of the Lucas model. Suddenly, monetary policy becomes more expansionary and every firm believes that the higher prices bid on their product is not being enjoyed by any other firm
We would picture this as a movement between points A) A and C. B) A and B. C) D and B. D) D and A. E) A and D.
transaction costs
What will be an ideal response?