This Graph Demonstrates the Domestic Demand and Supply for a Good,as

question 70

Multiple Choice

This graph demonstrates the domestic demand and supply for a good,as well as a quota and the world price for that good. As shown in the graph,when a government imposes a quota,the outcome differs from that of a tariff being imposed in that area:

• A) F and H are deadweight loss instead of transferred surplus.
• B) E represents tax revenues instead of transferred surplus.
• C) FGH is deadweight loss instead of tax revenues.
• D) G represents quota rents instead of tax revenues.

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Definitions:

Remote Associates Test

A creativity test that measures the ability to see associations between seemingly unrelated words.

Associative Elements

Components or factors that are linked or connected in the mind, forming associations or relationships.

Language Limitation

The boundaries and constraints within which human language operates, affecting how we communicate and understand concepts.

Retrieving Information

The process of recalling or recovering data, facts, or details from memory or storage.