In the high-income economies of the world, only about 2% of GDP comes from ______________.

Surplus value that is lost due to taxes imposed on imported goods which are keeping the market from functioning as well as it can is called

A) the loss of subsidy. B) the net export deficit. C) rent seeking loss. D) the deadweight loss of a tariff.

For which of the following workers would the substitution effect be more likely to outweigh the income effect of an increase in wage?

a. air traffic controller b. marketing manager c. waitress d. dentist