Suppose that a tariff is imposed on imported cheese. This will have the effect of __________ the quantity consumed of cheese, __________ consumers' surplus, and __________ the government's tariff revenues
A) increasing; increasing; increasing
B) decreasing; decreasing; increasing
C) increasing; decreasing; decreasing
D) decreasing; increasing; increasing
E) decreasing; increasing; decreasing
B
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The chief executive officer of a monopoly firm gives a directive to his production managers to maximize the per unit profit for the upcoming fiscal year. Evaluate the economic wisdom of this advice
What will be an ideal response?
Goods that have been produced but not yet sold are referred to as
A) capital goods. B) inventories. C) understocks. D) pre-sold goods.
The IMF lends at low interest rates and without preconditions
Indicate whether the statement is true or false
When unemployment insurance benefits exceed the wages a worker could earn when employed, the worker will have an incentive to:
A. have his/her unemployment insurance benefits cancelled. B. decrease his/her reservation price. C. remain unemployed longer than otherwise. D. accept the first job offered.