________ are profits that accrue to whomever has the right to import the quota restricted good
A) Quota licenses
B) Quota rents
C) Quota prices
D) None of the above.
B
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The marketing people for AT&T believe that if they lower the price of long-distance phone calls by 5 percent, their quantity demanded will increase by 15 percent. If they are correct in their belief, then
A) the demand for long-distance phone calls is price inelastic. B) the total revenue from long-distance phone calls will increase if they lower the price. C) the demand for long-distance phone calls is income elastic. D) the total revenue from long-distance phone calls will decrease if they lower the price.
Spending VCU4 on real-world goods and services causes the nation's:
a. Monetary base to remain the same. b. M2 money supply to fall. c. M2 money multiplier to fall. d. Monetary base to rise.
Prior to its reform, India followed a policy of:
a. extensive growth b. import substitution c. export promotion d. the Kuznets curve e. none of the above
Suppose Congress enacts investment tax credits to spur more business investment. What impact would this have on the loanable funds market?
a) There would be an increase in supply; the supply curve shifts right. b) There would be a decrease in supply; the supply curve shifts left. c) There would be an increase in demand; the demand curve shifts right. d) There would be a decrease in demand; the demand curve shifts left.