How extensively does the United States use quotas?
a. Very little; there are few quotas on imports.
b. Selectively; there are more quotas than most people realize.
c. Widely; quotas are extensive and cover a wide range of goods.
d. Widely; although the United States prefers to use tariffs, which cover a wide range of goods.
a
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A quantity less than the equilibrium quantity in a competitive market is inefficient because
A) the marginal benefit of another unit is greater than its marginal cost. B) too much of the good is being produced. C) the marginal cost of another unit is greater than its marginal benefit. D) the marginal benefit of another unit is not equal to zero. E) the marginal benefit is not maximized.
Show the effects of a permanent increase in the money supply
What will be an ideal response?