11. A tariff on imports benefits domestic producers of the imported good because A. They get the tariff revenue. B. It raises the price for which they can sell their product on the domestic market. C. It prevents imports from rising above a specified quantity. D. It reduces their producer surplus, making them more efficient. 12. Import quotas are most commonly administered A. By permitting all imports until the quota is filled for the year, then none after that. B. By granting import rights to foreign firms or governments. C. By auctioning import licenses to the highest bidder. D. By granting import rights to domestic firms. 13. To internalize a positive externality, an appropriate government policy would be to A. ban the good that creates the externality. B. subsidize the good. C. tax the good. D. produce the good until the value of an additional unit is zero

11. A tariff on imports benefits domestic producers of the imported good because A. They get the tariff revenue. B. It raises the price for which they can sell their product on the domestic market. C. It prevents imports from rising above a specified quantity. D. It reduces their producer surplus, making them more efficient. 12. Import quotas are most commonly administered A. By permitting all imports until the quota is filled for the year, then none after that. B. By granting import rights to foreign firms or governments. C. By auctioning import licenses to the highest bidder. D. By granting import rights to domestic firms. 13. To internalize a positive externality, an appropriate government policy would be to A. ban the good that creates the externality. B. subsidize the good. C. tax the good. D. produce the good until the value of an additional unit is zero

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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