With a quota, the __________ is greater than the __________
A) loss in producers' surplus; gain in consumers' surplus
B) loss in consumers' surplus; loss in producers' surplus plus higher total revenues on the imported goods
C) loss in producers' surplus plus higher total revenues on the imported goods; consumers' surplus
D) tax; revenue
E) quota-determined price; quota-determined output
B
Economics
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The price ceiling
A. is binding. B. causes a shortage. C. causes the quantity demanded to exceed the quantity supplied. D. All of the above are correct.
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Other things equal, a decrease in autonomous consumption shifts the ________ curve to the ________
A) IS; right B) IS; left C) LM; left D) LM; right
Economics