Deadweight Costs Are Net Losses That Occur When _____ Are

question 58

Multiple Choice

Deadweight costs are net losses that occur when _____ are imposed.

• A) import tariffs 
• B) import quotas 
• C) voluntary export restraints 
• D) local content requirements

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Definitions:

Informational Influence

A form of social influence where an individual changes their behavior or beliefs based on information received from others.

Normative Influence

The influence of other people that leads us to conform in order to be liked and accepted by them.

Idiosyncrasy Credits

A theoretical currency individuals earn by conforming to group norms; these credits give the individual leeway to deviate from norms at later points without facing negative repercussions.

Membership Fee

The amount of money required to join an organization, club, or group.