Which of the following describes how import quotas on sugar generally affect consumer surplus as shown in Exhibit 2?
a. eliminated
b. unchanged
c. decreased
d. increased
c. decreased
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The above figure shows the market for anti-freeze. The government imposes the sales tax shown in the figure on sellers. Anti-freeze sellers would pay a larger part of this tax than what is shown in the figure if the
A) demand were more inelastic. B) demand curve were steeper. C) supply were more inelastic. D) supply were more elastic.
Obstacles that restrict trade, either domestic or international, will
What will be an ideal response?
Net Exports are defined to be:
A. Imports + Exports. B. Imports ? Exports. C. Exports ? Imports. D. Exports ? Investment.
Since there are diminishing returns to the removal of further trade barriers, economists do not favor further negotiations
Indicate whether the statement is true or false