The effects of tariffs and quotas are: a(n) __________ in consumers' surplus, and a(n) __________ in producers' surplus
A) increase; increase
B) increase; decrease
C) decrease; increase
D) decrease; decrease
C
You might also like to view...
While Africa has the largest numbers of working children, Asia has the highest proportion of working children, with an estimated one in four employed
Indicate whether the statement is true or false
Mass marketing is
A) advertising that permits a consumer to follow up directly by searching for more information and placing direct product orders. B) advertising that targets a specific audience and allows the consumer to follow up directly by placing direct product orders usually through television or radio. C) advertising targeted at specific consumers. D) advertising intended to reach as many consumers as possible.
Explain the concept of “creative destruction” by innovation. Does it ensure positive economic profits in the long run?
What will be an ideal response?
Fractional reserve banking is a system in which
A. a fraction of banking services must be provided by depository institutions. B. depository institutions pay a fraction of advertised interest rates. C. depository institutions hold a fraction of total deposits in reserve. D. the money supply is a set fraction of the U.S. gold reserves.