Quantity restrictions benefit which group the most?
A. Suppliers wanting to enter the market
B. Consumers
C. Government
D. Existing suppliers
Answer: D
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Refer to Figure 4-1. If the market price is $1.00, what is the maximum number of burritos that Arnold will buy?
A) 1 B) 2 C) 3 D) 4
Everything else held constant, if a central bank makes an unsterilized ________ of foreign assets, then the domestic money supply will ________ and the domestic currency will depreciate
A) purchase; increase B) purchase; decrease C) sale; increase D) sale; decrease
The concept of depreciation while widely employed, has little economic basis
a. True b. False
Recall the text's discussion of the ten largest U.S. industries by value added in 1860 and 1910 . The emergence of tobacco products and malt liquors as major industries by 1910 suggests that
a. these goods are highly income elastic. b. these goods are highly income inelastic. c. these goods are price inelastic. d. these goods exhibit economies of scale in production.