Refer to the figure above. The region BAH represents the ________
A) consumer surplus after taxation
B) tax incidence on consumers
C) tax incidence on producers
D) deadweight loss due to taxation
D
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Most favored nation status requires:
a. a WTO member that reduces a tariff on imports from one WTO trading partner to apply the lower tariff to imports from all other WTO members. b. a WTO member that reduces a tariff on imports from one WTO trading partner to apply the lower tariff to imports from all other countries. c. a WTO member that increases a tariff on imports from one WTO trading partner to raise the tariff on imports from all other WTO members. d. a WTO member that increases a tariff on imports from one WTO trading partner to raise the tariff on imports from all other countries.
If the economy is at full employment, then the unemployment rate
A) is greater than the natural unemployment rate. B) is equal to the natural unemployment rate. C) is below the natural unemployment rate. D) is equal to zero. E) can be anywhere on a short-run Phillips curve.