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This graph leads to which of the following conclusions, select all that apply: The societal loss shown in the graph is generally unseen because it
This graph leads to which of the following conclusions, select all that apply:
The societal loss shown in the graph is generally unseen because it refers to transactions that didn't occur. Therefore, it is a special insight of economics.
Lowering tariffs increases imports.
The tax revenue portion includes a transfer of consumption benefiting domestic consumers to tax revenue for the government.
Raising tariffs eliminates benefits for domestic consumers and creates benefits for domestic producers.
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