Which pair of groups benefits from an import quota when quota rights are given away without charge?
a. domestic and foreign producers
b. domestic producers and foreign consumers
c. domestic government and foreign consumers
d. domestic government and producers
e. foreign consumers and producers
A
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Refer to Figure 3-3. The figure above shows the supply and demand curves for two markets: the market for original Michelangelo sculptures and the market for Ray Ban sunglasses. Which graph most likely represents which market?
A) Graph A represents the market for original Michelangelo sculptures and Graph B represents the market for Ray Ban sunglasses. B) Graph B represents both the market for original Michelangelo sculptures and Ray Ban sunglasses. C) Graph B represents the market for original Michelangelo sculptures and Graph A represents the market for Ray Ban sunglasses. D) Graph A represents both the market for original Michelangelo sculptures and Ray Ban sunglasses.
Wealth is a flow measure.
Answer the following statement true (T) or false (F)