Import quotas ________ the price of imported goods and ________ the quantity consumed in the nation imposing the quota
A) raise; increase
B) raise; decrease
C) lower; increase
D) lower; decrease
B
Economics
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Which of the following allows an economist to conclude that the welfare or happiness of society as a whole is clearly increasing?
A) A decrease in nominal GDP B) A decrease in real GDP C) An increase in nominal GDP D) An increase in real GDP E) None of the above.
Economics
In the long-run, a monopolist charges the same price as a perfectly competitive firm.
Answer the following statement true (T) or false (F)
Economics