When the United States imposes a tariff on a good, the amount of the ________ in U.S. consumer surplus is ________ the amount of the ________ in U.S. producer surplus
A) increase; smaller than; increase
B) decrease; larger than; decrease
C) decrease; larger than; increase
D) decrease; equal to; increase
C
You might also like to view...
The value of a household's assets minus the value of its liabilities is called
A) wealth. B) income. C) debt. D) stock.
Privatization is the process of turning private enterprises into state-owned enterprises
Indicate whether the statement is true or false
The vertical axis of the aggregate demand–aggregate supply model measures the amount of
A. total employment. B. total final output. C. the price level. D. net exports.
According to Figure 18.2, a shift from AS2 to AS3 is most likely to result from
A. A decrease in the reserve requirement. B. An increase in government spending. C. An increase in government regulation. D. A decrease in the marginal tax rate.