The answer is: "There is a net loss to society." What is the question?
A) What causes the distributional effects to outweigh the aggregate effects?
B) What is an effect of a reduction in producers' surplus?
C) What is an effect of consumers' surplus?
D) What is the effect of a tariff instead of a quota?
E) none of the above
E
You might also like to view...
A lender of last resort
A) makes loans when no one else will. B) makes loans without regard for risk. C) is a firm that is forced to make loans for its own survival. D) Both A and B. E) None of the above.
A price floor that is set above the equilibrium price
A) causes suppliers to lower their prices. B) is binding. C) is non-binding. D) creates a shortage.
The Fed's purchase of U.S. government securities constitutes a(n):
a. contractionary policy because it lowers the amount of total reserves in the banking system. b. contractionary policy because it lowers the amount of excess reserves in the banking system. c. expansionary policy because it raises the amount of total reserves in the banking system. d. expansionary policy because it lowers the amount of total reserves in the banking system. e. expansionary policy because it raises the amount of required reserves in the banking system.
People are forced to make choices because of
a. unlimited wants and unlimited resources b. limited wants and unlimited resources c. unlimited wants and limited resources d. limited wants and limited resources e. limited resources are greater than unlimited resources