The current U.S. average tariff rate is

The annual cost of producing the entire output of goods and services in the economy

A) includes durable goods but excludes nondurable goods. B) is total income. C) can be calculated entirely on the basis of financial transactions. D) includes financial transactions.

If the marginal benefit of reducing emissions of some air pollutant is less than the marginal cost

A) economic efficiency will be increased if further reductions are made. B) pollution taxes should be imposed on producers to pay for further reductions. C) further reductions will make society better off. D) further reduction will make society worse off.