Refer to above figure. What is the amount of efficiency loss resulting from imposition of the tariff?
What will be an ideal response?
$75
Economics
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Which of the following is not consistent with a self-correcting economy?
a. Falling wages that correct a recessionary gap b. Falling prices that correct a recessionary gap c. Rising prices that correct an expansionary gap d. Tendency of the short-run aggregate supply to shift until it intersects aggregate demand at potential GDP e. An active approach to a recession or depression
Economics
As real incomes grow, what happens to federal tax revenues as a share of the economy?
Economics