Multiple Choice
Both tariffs and quotas
A) benefit domestic consumers by lowering prices
B) benefit domestic consumers by expanding consumption choices
C) are illegal in the United States
D) benefit domestic producers
E) are policy tools that help bring about free trade
Correct Answer:
Verified
Correct Answer:
Verified
Q81: A quota decreases the volume of imports,whereas
Q82: The opportunity costs of production in two
Q83: If Panama has a high opportunity cost
Q84: In general,a society will benefit more,the more
Q85: Figure 16-2<br>Number of workers needed to produce
Q87: Suppose that the opportunity cost of producing
Q88: If free international trade opens up and
Q89: If Japan imposes a tariff on shoes
Q90: Assume that India has a comparative advantage
Q91: Comparative advantage is determined by the<br>A)elasticities of