In order for large countries to successfully use tariffs to increase well being,
A) they must have significant market power so that foreign firms will cut prices to preserve their sales.
B) the deadweight loss created by the tariff must be greater than the government revenue the tariff generates.
C) domestic production must increase more significantly than for the small country case.
D) domestic consumption and imports must decrease more significantly than in the small country case.
A
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Scarcity refers to a situation in which unlimited wants exceed the limited resources available to fulfill those wants
Indicate whether the statement is true or false
Some critics have argued that moving children to private schools might reduce the _________ of education.
A. pure public goods aspect B. positive externalities C. size of library holdings D. size of teachers unions influence