Which of the Following Is True of a Quota in a Competitive

question 69

Multiple Choice

Which of the following is true of a quota in a competitive market?

• A)A quota increases total surplus as the quantity produced and consumed in the domestic market increases.
• B)A quota is a trade policy used to promote greater efficiency in production within world markets.
• C)A quota reduces the welfare of domestic consumers more than it increases the welfare of producers.
• D)A quota is imposed in a competitive market to increase total world output of goods and services.

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Gomco

A device commonly used in the circumcision of infants, known as the Gomco clamp.

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A characteristic feature of asthma involving the tightening of the muscles around the airways, leading to breathing difficulties.