An import quota or tariff on French wine that raises the prices for wine will probably
a. hurt domestic wineries, which will lose business as a result of the higher prices
b. hurt both domestic wine drinkers and domestic wine producers because of a reduction in competition.
c. hurt both domestic wine drinkers and domestic wineries but this will be more than offset by a reduction in driving fatalities.
d. hurt domestic wine drinkers but help domestic wineries, which will gain from the higher prices.
d
You might also like to view...
During the 2008-09 recession, the U-6 measure of the unemployment rate
A) which counts marginally attached workers and discouraged workers as unemployed, reached 17 percent. B) which counts marginally attached workers and discouraged workers as employed, reached 10 percent. C) which counts marginally attached workers as unemployed but does not count discouraged workers as unemployed, reached 17 percent. D) which counts all part time workers as employed, reached 12 percent. E) which counts discouraged workers as unemployed but does not count marginally attached workers as unemployed, reached 17 percent.
In the above table, the marginal product is greatest when the
A) first worker is hired. B) second worker is hired. C) third worker is hired. D) fourth worker is hired.