The cost of lobbying for an import quota in a perfectly competitive market
A) increases the welfare loss of the quota.
B) decreases the deadweight loss of the quota.
C) shifts the supply curve of the good to the left.
D) increases the consumer surplus.
A
You might also like to view...
When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
Which answer best describes how economists suggest we deal with monopolies and oligopolies?
a. We should regulate them all until the markets become competitive. b. We should leave them alone. c. Those firms should be nationalized. d. We should fully enforce all antitrust laws. e. There is no consensus among economists on this issue.
The tax reforms of the 1980s
a. increased the percent of personal income taxed b. shifted most the tax burden onto the corporation c. reduced federal, state and local sales taxes d. reduced tax brackets and the marginal tax rates within the brackets e. resulted in reducing government deficits
Discounted cash flows shows that dollars received now are worth less than dollars received in the future.
Answer the following statement true (T) or false (F)