The social arrangement that gives John Grisham, the writer of best-selling novels, the ownership of his novels is

Wage reduction policies are less common than layoffs because

A) workers never prefer wage reduction policies. B) workers always trust the firm to tell the truth. C) of asymmetric information. D) of adverse selection problems.

Import quotas and tariffs produce some common results. Which of the following is not one of those common results?

a. Total surplus in the domestic country falls. b. Producer surplus in the domestic country increases. c. The domestic country experiences a deadweight loss. d. Revenue is raised for the domestic government.