Tariffs and quotas on an imported product:
A. Benefit both domestic producers and consumers of the product
B. Benefit both foreign producers and consumers of the product
C. Benefit foreign producers and hurt foreign consumers of the product
D. Benefit domestic producers and hurt domestic consumers of the product
D. Benefit domestic producers and hurt domestic consumers of the product
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Which of the following is most likely to occur when the government enacts policies to make the distribution of income more equal?
a. a more efficient allocation of resources b. a distortion of incentives c. unchanged behavior d. All of the above are correct.
If the price of a good ____________, the demand for its complements will __________
A) rises; fall B) falls; rise C) falls; fall D) rises; rise E) a and b