Refer to Figure 9.3. If the government establishes a price ceiling of $1.00, how many pounds of berries will be sold?
A) 200
B) 300
C) 400
D) 600
E) 800
A
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Compared to an open economy without a tariff, the amount of imported sugar will drop from ________ tons to ________ tons after the tariff is imposed. 
A. 80; 40 B. 60; 30 C. 40; 20 D. 20; 10
Refer to the above table. If opportunity costs are constant, then the United States and Mexico will produce goods in which they have a comparative advantage and trade at a rate of exchange of
A) 4 computers for 1 bicycle. B) 6 computers for 1 bicycle. C) 0.1 computer for 1 bicycle. D) 1 computer for 1 bicycle.
Scarce goods are: a. desirable and unlimited in amount
b. undesirable and unlimited in amount. c. desirable and limited in amount. d. undesirable and limited in amount.
If the demand curve is perfectly elastic, the elasticity coefficient is ____ and the curve is ____
a. zero, vertical b. infinity, horizontal c. zero, horizontal d. infinity, vertical