The figure below shows the market for shoes in a small importing country. Dd and Sd are the domestic demand and supply curves of shoes, respectively.
The production effect of the tariff on shoes is measured by the area
A. a.
B. b.
C. c.
D. (a + b).
Answer: B
Economics
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How is the typical market basket determined for the Consumer Price Index (CPI)?
a. By the President b. By the U.S. Congress c. By a survey of the spending patterns of thousands of businesses d. By a survey of the spending patterns of thousands of government agencies e. By a survey of the spending patterns of thousands of households
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In comparison to the U.S., Germany has a relatively low percentage of union membership
a. True b. False Indicate whether the statement is true or false
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