Today, in the United States, imports are over

A) 17 percent of GDP.
B) 1 percent of GDP.
C) 8 percent of GDP.
D) 4 percent of GDP.

A

Economics

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Why is the tax multiplier smaller (in absolute value) than the autonomous spending multiplier?

What will be an ideal response?

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Refer to Figure 7-3. What is the reduction in value of consumer surplus after the imposition of the quota?

A) $8 million B) $26.25 million C) $27.75 million D) $30 million

Economics