Refer to above figure. What is the amount of efficiency loss resulting from imposition of the tariff?
What will be an ideal response?
$75
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Jane is a 25-year-old, full-time student. She works part time in her school library and is paid $7 an hour. She is considered to be
A) unemployed. B) not in the labor force. C) in the labor force but not working. D) employed. E) not in the working-age population because she is in college.
A decrease in the quantity of reserves held by commercial banks could be the result of
A) a decision by U.S. households to hold less currency. B) the sale of government securities by the Federal Reserve. C) a decrease in the government's budget deficit. D) an increase in the exchange rate.
The original goal of the Fed's founders was to prevent the
a. supply of money from increasing too rapidly. b. supply of money from decreasing during downturns. c. possibility of hyperinflation. d. possibility of interest rates falling too rapidly.
Answer the following statements true (T) or false (F)
1) In the United States, real GDP per capita has increased more rapidly than real GDP. 2) An economy with an average growth rate of 10 percent can expect to see its real GDP double in approximately 7 years. 3) Growth is a widely held economic goal primarily because it creates a more equal distribution of wealth and income. 4) Real GDP per capita is found by dividing real GDP by the size of the labor force. 5) The rule of 70 is used to find how long it will take an economy to grow by 70 percent.