If the import supply curve is upward-sloping:
A. a tariff or quota can increase domestic aggregate surplus.
B. a quota can increase domestic aggregate surplus, but a tariff cannot.
C. a tariff can increase domestic aggregate surplus, but a quota cannot.
D. neither a tariff nor a quota can increase domestic aggregate surplus.
A. a tariff or quota can increase domestic aggregate surplus.
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The Suffolk System
a. operated similarly to the modern Federal Deposit Insurance Corporation. b. led to lower discount rates on the notes of country banks in New England. c. was established by Nicholas Biddle. d. was used primarily prior to 1863 in Louisiana. e. All of the above.
Moral hazard occurs when the parties on once side of the market, who have information not known to others, self select in a way that adversely affects the parties on the other side of the market
Indicate whether the statement is true or false