The three major differences between tariffs and trade quotas are (1) __________________; (2) ________________; and (3) _________________.
Fill in the blank(s) with the appropriate word(s).
unlike quotas, tariffs raise tax revenues; a tariff affects all foreign sellers equally, but quotas are directed arbitrarily against particular sellers; tariffs may be more easily paid by efficient producers, but quotas may allow relatively inefficient producers to send us their goods, while keeping out those of their more efficient competitors
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A tax cut that increases the budget deficit results in ________ in the ________ loanable funds
A) an increase; supply of B) a decrease; supply of C) an increase; demand for D) a decrease; demand for E) no change; either the demand for or the supply of
In sequential games,
a. Players take turns and observe their rivals choices before they make their choices b. Players take turns but don't observe their rivals choices before they make their choices c. Players move at the same time d. None of the above