In a small country, the net national cost of tariff protection is equal to the reduction in consumer surplus minus
A) the increase in government revenue and the increase in producer surplus.
B) the increase in government revenue.
C) the increase in producer surplus.
D) the efficiency loss and the consumption side loss.
A
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A) 90% B) 70% C) 55% D) 35%
"Ceteris paribus" is a Latin expression that means "holding everything else constant."
a. True b. False Indicate whether the statement is true or false
A change in the aggregate price level moves the economy along a given aggregate supply curve
a. True b. False Indicate whether the statement is true or false
A merchandise trade deficit
a. occurs when net exports are positive. b. occurs when imports are greater than exports. c. is usually accompanied by decreases in foreign investment in the U.S d. occurs when domestic investment is less than domestic saving. e. none of the above.