Import quotas and tariffs produce similar results. Which of the following is not one of those results?
a. The domestic price of the good increases.
b. Consumer surplus of domestic consumers increases.
c. Producer surplus of domestic producers increases.
d. A deadweight loss is experienced by the domestic country.
b
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A bank's net interest income is
A) the same as net operating income. B) the difference between interest on loans and interest expense. C) the same as net operating income before expenses. D) the difference between total interest income and interest expense.
The United States Social Security system
a. pays benefits in direct accordance to what each individual has paid into the system. b. has paid the current generation of recipients less in benefits than it paid in payroll taxes. c. has paid the current generation of recipients more than it paid in payroll taxes. d. paid the earlier generations more and the current generation less than each paid in payroll taxes.
Suppose the government imposes a 25-cent tax on the buyers of incandescent light bulbs. Which of the following is not correct? The tax would
a. shift the demand curve downward by 25 cents. b. lower the equilibrium price by 25 cents. c. reduce the equilibrium quantity. d. discourage market activity.
If the government imposes a tax of $3,000 on everyone, the tax would be a(n)
a. income tax. b. consumption tax. c. lump-sum tax. d. marginal tax.