Which of the following refers to the extra cost of shifting to more expensive home production following the imposition of a tariff?
A. Revenue effect
B. Deadweight loss
C. Producer surplus
D. Production effect
Answer: D
You might also like to view...
A given change in disposable income would have the greatest effect on consumption with which of the following marginal propensities to consume?
a. 0.4 b. 0.6 c. 0.8 d. 0.2
What is the marginal revenue product of labor (MRP)? What shape does the MRP curve have? Why?
What will be an ideal response?
During World War II, a nation's opportunity cost of devoting resources to the war effort was ______________.
Fill in the blank(s) with the appropriate word(s).
Refer to the information provided in Figure 24.1 below to answer the question(s) that follow.
Figure 24.1Refer to Figure 24.1. At equilibrium, injections
A. can be greater than $1,000 billion. B. equal $1,500 billion. C. equal $2,000 billion. D. equal leakages.