Examlex
Which of the following does NOT correctly describe graded potential?
Exporting Industries
Industries that produce goods and services that are sold abroad.
Import-Competing Industries
Industries that produce goods and services that are also imported.
Deadweight Loss
The loss in total surplus that occurs whenever an action or a policy reduces the quantity transacted below the efficient market equilibrium quantity.
Tariff
A tax imposed by a government on goods and services imported from other countries, affecting trade.
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