Read the FT article on the usefulness of GDP as a gauge of economic health available on Wattle. a) Why may GDP growth alone not be an adequate
September 3, 2020
Suppose an island was considering implementing a cap-and-trade for lobsters. Each person who catches a lobster would need to obtain one permit for…
September 3, 2020

Suppose that Congress imposes a tariff on imported autos to protect the US auto industry from foreign competition. Assuming that the United States is a price taker in the world auto market, show the following on a diagram: the change in the quantitiy of imports, the loss to US consumers, the gain to US manufactures, government revenue, and the deadweight loss associated with the tariff

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