Author Question: Union membership has continued to grow faster than the labor force in the United States since World ... (Read 70 times)

big1devin · **on:** Jun 30, 2018

Union membership has continued to grow faster than the labor force in the United States since World War II.
a. True
b. False

Question 2

Which of the following is true concerning the impact of tariffs and quotas?
a. Tariffs raise the price of a good but quotas do not.
b. Tariffs reduce consumer and producer surplus whereas quotas reduce domestic consumer surplus and increase domestic producer surplus.
c. Both tariffs and quotas increase the quantity demanded.
d. The revenue resulting from a tariff goes to the government whereas the revenue resulting from a quota goes to whoever is awarded the right to sell the product.
e. The potential welfare loss is greater with tariffs than quotas.