The difference between a tariff and a quota is that the tariff revenue goes to the
A) domestic government.
B) holder of the quota license.
C) foreign government.
D) domestic consumer.
E) domestic producer.
A
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When a major league baseball player's contract has expired, he can either sign a new contract with his current team or become a free agent and sign a contract to play with a different team
If adverse selection is a problem in the market for major league ball players, who do you think are more likely to be injured the season after they sign a new contract: players who re-sign with their current team or players who sign with a new team? Explain.
If a person is entertained by gambling, then
A) she is not risk averse. B) she does not understand the concept of a fair game. C) she may gamble even if it is an unfair game. D) she will definitely not buy automobile insurance.