Tariffs and quotas create a loss in social welfare because
A) producer surplus declines.
B) revenues from tariffs are misspent.
C) consumer surplus declines.
D) All of the above.
C
Economics
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In order to provide alternatives to drug-crop production, the Andean Trade Preference Act (ATPA) was created, providing Bolivia, Colombia, Ecuador, and Peru tariff free access to U.S. markets for many goods
Indicate whether the statement is true or false
Economics
Other things the same, the wages in an occupation are likely to be higher the more
a. dangerous the job. b. pleasant the working conditions. c. prestigious the work environment of the occupation. d. desirable the location of the job.
Economics