Describe who benefits and who loses from tariffs and from
quotas. What is the major difference between the effects
of a quota and the effects of a tariff?
What are three benefits to a fixed exchange rate? How do these
benefits apply to the Euro? Besides a fixed exchange rate, what
tools exist for a government that lacks credibility in terms of
inflation? What is the case for going beyond fixed exchange rates
and adopting a common currency?
1. Who benefits from rent ceilings? Who suffers? What are the long-term effects of rent ceilings? How can landlords and tenants cheat on rent ceilings? Do you think the rent ceilings might lead to more discrimination against certain groups? 2. Describe the effects on the labor market of a minimum wage that is higher than the equilibrium wage. Who benefits from such a minimum wage? Who suffers? What are the long-term effects of the minimum wage?3. Have you ever worked...