Suppose the population (age 16 and over) of Angola is 100 million; 5 million are unemployed, and 70 million hold jobs. The labor force participation rate in Angola is

Which of the following is not an argument favoring tariffs? a. They help infant industries grow

b. They increase consumer surplus for domestic consumers. c. They reduce domestic unemployment. d. They are necessary for national security reasons.

When reselling a product is easy, ______.

a. firms can price discriminate b. price differentials expand c. price differentials shrink d. market prices increase