The equilibrium price under an import quota is below the price that occurs with free trade.

Why do societies face a tradeoff between the size of the economic pie and the degree of equality with which it is shared?

What will be an ideal response?

According to the 1974 Constitution of the former Yugoslavia, nobody in Yugoslavia owns resources. Being a socialist country, the constitution claimed resources were owned by "society" as a whole

If the constitution were fully enforced, resources would tend to be A) used for the common good. B) used without greed and materialistic interests. C) free from the constraints of scarcity. D) underpriced.