In a small country, the net national cost of tariff protection is equal to the reduction in consumer surplus minus
A) the gain to foreigners.
B) the increase in government revenue and the increase in producer surplus.
C) the increase in government revenue.
D) the increase in producer surplus.
E) the efficiency loss and the consumption side loss.
B
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If the working age population is 200 million, 150 million are employed, and 6 million are unemployed, the unemployment rate is
A) 3.0 percent. B) 25.0 percent. C) 4.0 percent. D) 12.0 percent. E) 3.8 percent.
The flows of money compared to the flow of resources, goods, and services in the circular flow model
a. occur only once, then they become stocks (as opposed to flows) b. are equivalent when the number of households equals the number of firms c. move in the same direction as long as payments equal revenue d. always lag behind the flow of resources, goods, and services e. move in the opposite direction