Figure 17-8



Refer to . The horizontal line at the world price of wagons represents the

a.

demand for wagons from the rest of the world.

b.

supply of wagons from the rest of the world.

c.

level of inefficiency in the domestic market caused by trade.

d.

surplus in the domestic wagon market.


b

Economics

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Suppose the government wants to reduce the illegal importation of exotic animals used as pets and tries to achieve this goal by interrupting the supply of illegally imported exotic animals

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Which of the following is the most likely result of an increase in the minimum wage?

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Economics