In the Case of a Small Country,consumer Surplus

question 43

Multiple Choice

In the case of a small country,consumer surplus

• A)decreases less with a tariff than with an equivalent quota.
• B)decreases less with a quota than with an equivalent tariff.
• C)decreases the same with tariffs and equivalent quotas.
• D)increases more with quotas.

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Definitions:

Sampling Distribution

The probability distribution of a given statistic based on a random sample, used to infer population parameters.

Population Proportion

A measure that represents the fraction of individuals in a population having a particular attribute.

Standard Error

A statistic that measures the dispersion of sample means around the population mean, often used to estimate the accuracy of sample statistics.

Sampling Distribution

An outcome distribution of a statistic, created by sampling extensively from a designated population.