Quotas are most often supported by

A persistent decline in the price level resulting from economic growth in the presence of stable aggregate demand is known as

A) secular deflation. B) the interest rate effect. C) the real balance effect. D) demand-side deflation.

In the above figure, if the market is competitive and unregulated, then at the equilibrium amount of output the marginal social benefit is

A) less than the marginal cost to producers. B) greater than the marginal social cost. C) equal to the marginal cost to producers. D) equal to the marginal private benefit from consumption.