When a country that imported a particular good abandons a free-trade policy and adopts a no-trade policy,
a. producer surplus increases and total surplus increases in the market for that good.
b. producer surplus increases and total surplus decreases in the market for that good.
c. producer surplus decreases and total surplus increases in the market for that good.
d. producer surplus decreases and total surplus decreases in the market for that good.
b
Economics
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Of the following U.S. demographic groups, which tends to have the lowest rate of unemployment?
A) whites B) blacks C) white teenagers D) black teenagers
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Explain the income effect and the substitution effects of a price change for a normal good
What will be an ideal response?
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