Refer to Figure 9.8. If free trade in sugar is replaced by a $50 tariff in sugar, government revenue from the tariff will be
A) $50.
B) $5000.
C) $15,000.
D) $17,500.
E) $25,000.
B
Economics
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Okun's Law says that the difference between the unemployment rate and the natural unemployment rate determines
A) potential GDP. B) real GDP. C) the real interest rate. D) the gap between potential GDP and real GDP. E) the gap between the inflation rate and the unemployment rate.
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Horizontal equity is extremely compatible with the benefit principle
a. True b. False
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