Advocates of steel tariffs to protect U.S. steel firms realize that when imposing such tariffs, the gains of firms are outweighed by the losses to consumers. This implies that
A) such advocates value producer surplus more than consumer surplus.
B) such advocates want to help consumers.
C) such advocates value consumer surplus more than producer surplus.
D) such advocates value producer surplus and consumer surplus equally.
A
Economics
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According to the natural rate hypothesis, in the short run an increase in the inflation rate brings
A) an increase in the natural unemployment rate. B) an increase in the unemployment rate. C) no change in the unemployment rate. D) a decrease in the unemployment rate. E) a decrease in the natural unemployment rate.
Economics
Based on the production and revenue data in the above table, what is the price of the product?
A) $100 B) $10 C) $1 D) More information is needed to determine the price of the product.
Economics