The following graph shows the demand for and domestic supply of a good in a country.If the world price of the good is $2.00 per unit and an import quota of 50 units per month is imposed,then the gain of the foreign exporters with quota rights is represented by the area _____.
Figure 17.6
Definitions:
Unemployment Rate
The percentage of people in the labor pool who are without employment and are actively hunting for jobs.
Labor-Force Participation Rate
The percentage of the working-age population that is in the labor force, including both employed and unemployed individuals.
Employed
The state of having paid work or being engaged in an activity or enterprise as a means of earning an income.
Labor-Force Participation Rate
The proportion of the adult population that is either employed or actively looking for employment.
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