It Is Always the Case That

question 61

Multiple Choice

It is always the case that:

• A)the deadweight loss will be lower with a quota system than a tariff system.
• B)there will be a deadweight loss from imposing tariffs on imports, even though the government may have a need for the revenue from the tariffs.
• C)free trade will lead to a deadweight loss.
• D)the deadweight loss will be lower with a tariff system than a quota system.

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Definitions:

Lofty Mount Lu

A renowned mountain located in Jiangxi Province, China, famous for its natural beauty, cultural history, and prominence in Chinese poetry and painting.

Southern School

In Chinese painting, it refers to a school or style focused on more expressive, spontaneous techniques, emphasizing the spiritual and emotional aspects of art, distinguished from the more formal Northern School.

Imperial Palace

The official residence of an emperor or empress, often grandiose and lavishly decorated, symbolizing the sovereign's power and status.

Forbidden City

A large imperial palace complex in Beijing, China, that served as the home of emperors and their households for almost 500 years, showcasing traditional Chinese palatial architecture.