A Ban on Imports, a Tariff, or a Quota Raise

question 51

Multiple Choice

A ban on imports, a tariff, or a quota raise the price to domestic consumers creates a deadweight loss. This loss is composed of

• A)production associated loss and inefficiency loss.
• B)productive consumption loss and protection loss.
• C)consumption distortion loss and production distortion loss.
• D)consumer misperception loss and taxation loss.

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Definitions:

Semiotic Jujitsu

A conceptual strategy that subverts dominant or established signs and symbols, turning them against their original meanings or intentions.

Economic Philosophy

The study of ideologies and beliefs about how economies should work, including the evaluation of economic policies and principles.

Government Intervention

Actions taken by a government to influence or directly participate in the economic or social affairs of a nation.

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