A quota on sugar harms domestic producers of sugar.
Answer the following statement true (T) or false (F)
False
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If a 30 percent price increase generates a 20 percent decrease in quantity demanded, then demand is
A) inelastic. B) elastic. C) unit elastic. D) perfectly elastic. E) perfectly inelastic.
Robinson Crusoe's decision to produce more capital goods and fewer consumer goods in a given period causes:
a. a decrease in the resources available in its economy. b. an increase in economic growth in future periods. c. a decrease in economic growth in future periods. d. no change in the availability of resources in its economy. e. a decrease in the ability to produce goods in the next period.
Which of the following would cause the U.S. demand curve for Japanese yen to shift to the right?
a. An increase in the U.S. inflation rate compared to the rate in Japan. b. A higher real rate of interest on investments in Japan than on investments in the United States. c. The popularity of Japanese products increases in the United States. d. All of these.
Perfect price discrimination
a. eliminates deadweight loss. b. reduces profits to the monopolist. c. decreases the total quantity sold by the monopolist. d. requires arbitrage in order for the monopolist to maximize profits.