In the short-run, we assume that the money prices of goods and ...

[moongchi]

In the short-run, we assume that the money prices of goods and services are
 
  A) temporarily fixed.
  B) permanently fixed.
  C) allowed to fluctuate.
  D) equal to long-run prices.
  E) fully employed.

Question 2

If an import-competing firm is imperfectly competitive, than under free trade an import quota will ________ domestic market price, ________ producer surplus, ________ consumer surplus, ________ government revenue, and ________ overall domestic
 
  national welfare. A) increase; increase; decrease; have no effect on; decrease
  B) decrease; decrease; increase; decrease; have no effect on
  C) increase; have no effect on; decrease; increase; decrease
  D) decrease; increase; decrease; increase; decrease
  E) have no effect on; have no effect on; decrease; increase; decrease

[ttt030911]

Answer to Question 1

A

Answer to Question 2

A

[moongchi]

YES! Correct, THANKS for helping me on my review

[deja]

Thanks for the timely response, appreciate it