When a quota on a product is removed, this policy action
A. benefits consumers of the product.
B. hurts nations exporting the product.
C. benefits the government.
D. benefits domestic producers of the product.
Answer: A
You might also like to view...
Which of the following is NOT included in real GDP?
A) production of services, such as the services of hair dressers B) production of goods that last less than a year, such as production of hot dogs C) production that takes place in the underground economy D) production of goods that last more than a year, such as a pair of roller blades
Use the above figure. The total cost of producing at the optimal level for the monopolistically competitive firm is
A) $285. B) $255. C) $180. D) $300.
Command-and-control regulation, as compared to incentive-based regulation, is:
a. efficient in the short run and in the long run. b. efficient in the short run, but not in the long run. c. inefficient in the short run, but efficient in the long run. d. inefficient in the short run and long run.
The requirement that a minimum volume of ethanol is blended into the U.S. fuel supply is an example of a. a corrective tax
b. a corrective subsidy. c. a command-and-control policy. d. the Coase Theorem.