The clear winners from the quota are the ________, and the losers are the______. 
A. domestic producers; domestic consumers
B. domestic consumers; domestic producers
C. government; domestic consumers
D. importers; domestic producers
Answer: A
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Which of the following is true about games in which people have different information?
A. The behavior of the participants in the game reveals little to no information. B. Participants in these games can sometimes have an incentive to mislead others through their behavior. C. Participants in these games always act in a way contrary to his immediate interests. D. These games never have a Nash equilibrium.
A natural monopoly is a market where
a. a single firm has control over a vital natural resource. b. many smaller firms can produce the entire market output at the same per-unit cost as could one large firm. c. a single large firm can produce the entire market output at a lower per-unit cost than a group of smaller firms. d. many smaller firms can produce the entire market output at a lower per-unit cost than could one large firm.
Simple majority voting will generate the same result whether taxes are equally divided or unequally divided
Indicate whether the statement is true or false
The situation where "the few who yell the loudest gets heard" is referred to as the:
A. Special-interest effect B. Principal-agent problem C. Moral hazard problem D. Adverse selection effect