A reason tariffs and quotas are imposed is that
A) their costs are spread among many people and their benefits are concentrated.
B) their costs are concentrated and their benefits are spread among many people.
C) they create net benefits in the long run.
D) they reduce import dependence.
A
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A market equilibrium occurs
A) only with government regulation. B) only because of the profit motive of firms. C) only because of the complacency of consumers. D) through the interaction of self-interested consumers and producers.
Even if we were able to completely eliminate greenhouse gas (GHG) emissions today, the problems associated with the accumulated stock of GHGs in the atmosphere will persist for a long time because:
A) their dissipation rate is very low. B) their dissipation rate is very high. C) the social discount rate is very low. D) the social discount rate is very high.