Tariffs and quotas create a loss in social welfare because
A) producer surplus declines.
B) revenues from tariffs are misspent.
C) consumer surplus declines.
D) All of the above.
C
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An indirect tax is exemplified by
A) an income tax. B) a sales tax. C) a subsidy. D) None of the above answers is correct.
Measures of student performance have not increased even though per-pupil government subsidies have increased because
A) there is a need for more funds to be spent. B) we have declining enrollment in public schools. C) parents and children value the last unit of educational services received more than the cost. D) parents and children value the last unit of educational services received less than the cost.
From 1800-1860 which part of the nation was most opposed to high tariffs?
a. South. b. New England. c. Middle Atlantic States. d. Far Western States.
In determining the exchange rate between the Canadian dollar and British pound, if Canadian income increases, then
a. the Canadian demand for pounds increases b. the price of pounds decreases c. the Canadian demand for pounds decreases d. the Canadian supply of pounds increases e. the supply of Canadian dollars decreases