The presence of excess reserves does not change how much money the banking system actually creates

Why is it better to protect an infant industry with monopoly power with a tariff than a quota?

a. A tariff causes domestic production to increase, whereas a quota causes production to decrease. b. A tariff causes domestic production to decrease, whereas a quota causes domestic production to increase. c. A tariff will raise the domestic price above the world price, whereas a quota will not. d. A quota will raise the domestic price above the world price, whereas a tariff will not.

For all goods, the long run demand curve is always more elastic than the short run demand curve

Indicate whether the statement is true or false