1. As far as quotas on foreign products are concerned, which of the following answers would an economist consider to be the best?
3. a.Economists have no idea why quotas exist, as they make no sense them.
5. b.Quotas are useful in raising government revenue. Since governments could always use extra revenue in their spending projects, quotas are common.
7. c.Governments use quotas to protect consumers from unfair competition.
9. d.Quotas hurt consumers but benefit producers, and they will occur when producers have more political clout than consumers.