Which of the Following Is True

question 167

Multiple Choice

Which of the following is true?
i.Compared to a no-trade situation,in a market with exports,consumer surplus is larger.
ii.Tariffs decrease consumer surplus.
iii.Trade is restricted because protection brings small losses to a large number of people and large gains to a small number of people.

• A) only i
• B) only ii
• C) only iii
• D) i and iii
• E) ii and iii

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Definitions:

Bureaucracy Structure

A hierarchical organizational structure characterized by fixed areas of responsibility, a defined hierarchy of authority, and a set of rules and procedures to control operations and decision-making.

Formalized Structure

An organizational setup that emphasizes well-established rules and procedures, clear hierarchy, and fixed duties and responsibilities.

Centralization

The concentration of control or authority in the hands of a central government, organization, or individual.

Decentralized

The distribution of functions, powers, or people away from a central location or authority, often applied in contexts such as government, technology, and organizational structures.