Most economists
A. favor both tariffs and quotas.
B. consider tariffs less of an evil than quotas.
C. consider quotas and tariffs of equal evil.
B. consider tariffs less of an evil than quotas.
You might also like to view...
Which of the following is an example of a negative externality?
A. Bad weather reduces the size of the wheat crop. B. A reduction in the size of the wheat crop causes the income of wheat farmers to fall. C. Smoking harms the health of nonsmokers who are nearby. D. Smoking harms the health of the smoker. E. all of the above
Suppose the market price exceeds the typical perfectly competitive firm's short-run average total cost. What will happen to this market in the long run?
a. The market demand curve will shift to the left as firms exit. b. The market supply curve will shift to the left as firms exit. c. The market demand curve will shift to the right as firms enter. d. Both the market demand and supply curves will shift to the left as firms exit. e. The market supply curve will shift to the right as firms enter.
The time spent by students in college
a. leads to lower lifetime earnings because opportunity costs are high. b. is an investment in human capital. c. decreases human capital by lowering work experience. d. increases as the wages paid to low-skilled workers rise.
Security personnel are an important input into the production of major concerts, such as Lady Gaga, and Jay Z & Kanye West. If wages for security personnel rise, then we would expect
A) the supply of major concerts to be unaffected. B) the supply of major concerts to decrease. C) the supply of major concerts to increase. D) the demand for major concerts to increase.