Both tariffs and import quotas
a. increase the quantity of imports and raise the domestic price of the good.
b. increase the quantity of imports and lower the domestic price of the good.
c. decrease the quantity of imports and raise the domestic price of the good.
d. decrease the quantity of imports and lower the domestic price of the good.
c
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The ways to address agency costs include
a. gathering information about the agent's characteristics before hiring b. gathering information about the agent's actions once hired c. incentivizing agents to work on behalf of principals d. all of the above
The frequency of banking panics was greatly reduced when
a. the Federal Reserve was created b. the federal government started insuring banking deposits c. the Federal Reserve increased the required reserve ratio d. the Federal Reserve started using open market operations e. the Federal Reserve decided to take a less active role in controlling the money supply