Which pair of groups benefits from an import quota when quota rights are given away without charge?
a. domestic and foreign producers
b. domestic producers and foreign consumers
c. domestic government and foreign consumers
d. domestic government and producers
e. foreign consumers and producers
A
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Suppose that the short-run aggregate supply curve is: ?= 2 + 1.5 (Y-10), where ? is inflation and Y is output; and the aggregate demand curve is Y= 11 - 0.5?. The equilibrium output is ________ and the equilibrium inflation rate is ________ %
A) 10; 2 B) 17.5; 2 C) 2; 10 D) 10; 7.5
Explain the problems that necessitate insurance management, and three methods insurance companies use to address these problems. Identify the problem that each practice addresses
What will be an ideal response?
If the price elasticity of supply of a good is elastic and the good price increases, then the increase in the good's supply should be
A) greater than the increase in price. B) less than the increase in price. C) the same as the increase in price. D) Cannot be determined from this information
If marginal revenue for a firm is negative,
a. marginal cost must also be negative b. total revenue will decrease if the firm sells more output c. total revenue must also be negative d. the firm should shut down in the short run e. the lost revenue from having to lower its price is less than the additional revenue from higher sales