Which of the following shows the welfare loss to the economy that results from consumers shifting from imports to more expensive domestic production?
A. one-dollar, one-vote metric
B. production effect
C. consumption effect
D. terms-of-trade effect
Answer:B
Which of the following shows the welfare loss to the economy that results from consumers shifting from imports to more expensive domestic production?
A. one-dollar, one-vote metric B. production effect C. consumption effect D. terms-of-trade effect