The logic of collective action explains the persistence of tariffs and quotas as an outcome that is driven by the asymmetry between
A. the benefits distributed across many consumers versus the concentration o f the costs in the hands of a few firms.
B. the benefits distributed across many firms versus the concentration of the costs in the hands o f a few consumers.
C . the benefit s concentrated in the hands of the few consumers, versus the costs distributed across many firms.
D. the benefits concentrated in the hands o f the few firms, versus the costs distributed across many consumers.
Answer: D. the benefits concentrated in the hands o f the few firms, versus the costs distributed across many consumers.
You might also like to view...
If the price of a good is low,
a. firms would increase profit by increasing output. b. the quantity supplied of the good could be zero. c. the supply curve for the good will shift to the left. d. firms can and should raise the price of the product.
In a closed economy, if Y remained the same, but G rose, T rose by the same amount as G, and C fell but by less than the increase in T, what would happen to private and national saving?
a. national saving would fall and private saving would rise b. national saving would rise and private saving would fall c. both national saving and private saving would fall d. None of the above is correct.
Paying a higher wage to attract and retain more productive workers is called:
a. wage discrimination. b. signaling. c. screening worker's skill set. d. paying efficiency wages.
How does the ECB choose to define price stability?
A) Eurozone consumer price inflation of less than but close to 2% per year over the medium term B) consumer price inflation of greater than but close to 3% per year over the medium term in all Eurozone countries C) Eurozone consumer price inflation equal to 0% per year over the medium term D) Eurozone consumer price inflation less than but close to 5% per year over the medium term