According to Public Choice Theory, Tariffs, Quotas, and Other Trade

question 119

Multiple Choice

According to public choice theory, tariffs, quotas, and other trade restrictions are primarily the result of the

• A) political clout of foreigners.
• B) political clout of domestic consumers.
• C) political power of special interest groups.
• D) political desire for economic efficiency.

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Definitions:

Idea Screening

The process of evaluating new ideas to identify those with the greatest potential for further development and success in the market.

New-product Development

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