_______ represents the difference between what consumer have to pay for a product and what they are willing and able to pay ?

Related Mcqs:

The difference between what consumers have to pay for a particular and what they are willing to pay is known as ?

A. consumer surplus B. producer surplus C. deadweight costs D. deadweight surplus...

In developed countries, tariffs on raw materials tend to be ?

A. highest of all B. higher than on manufactured goods C. equal to tariffs on manufactured goods D. lower than on manufactured goods...

With free trade the total quantity of imports would equal ?

A. 10,000 units B. 40,000 units C. 42,000 units D. 50,000 units...

Specific tariffs are collected as ?

A. fixed amount of money per unit traded B. a percentage of money per unit traded C. a percentage of the quantity of imports D. All of the above...

The effective rate of protection ?

A. distinguishes between tariffs that are effective and those that are ineffective B. is the minimum level at Which a tariff becomes effective in limiting imports? C. shows how effective a tariff is in raising revenue for the government D. shows the increase in value added for domestic production that a particular tariff structure makes … The effective rate of protection ?Read More...