Economists generally oppose trade restrictions such as tariffs and quotas; however, if one these devices must be used, economists generally prefer tariffs to quotas

The Lorenz curve measures the:

a. distribution of income. b. effectiveness of government transfer payments. c. extent to which family incomes are affected by welfare. d. all of these.

What is a price taker? Discuss the assumptions used to obtain the perfectly competitive model

What will be an ideal response?