The demand for microwaves in a certain country is given by: D = 8,000 -30P, where P is the price of a microwave. Supply by domestic microwave producers is: S = 4,000 + 10P. If this economy opens to trade while the world price of a microwave is $50, and the government imposes a tariff of $30 per microwave, then this country will ________ microwaves.
A. export
B. export 800
C. import 400
D. import 800
Answer: D
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The evolution of macroeconomic theory
A) usually precedes and causes major macroeconomic events. B) usually is in reaction to major macroeconomic events. C) is evenly divided between causing and reacting to major macroeconomic events. D) proceeds rather independently of major macroeconomic events.
Refer to the information provided in Figure 8.8 below to answer the question(s) that follow. 
Figure 8.8 Refer to Figure 8.8. If the market price of soybeans ________, then to maximize profits this farmer should produce 700 bushels of soybeans.
A. falls to $2 B. falls to $8 C. falls to $9 D. stays at $12
Refer to Figure 18.3. In autarky, the maximum amount of pogo sticks that Livonia can produce is
A) 120. B) 100. C) 80. D) 40.
What are two ways that raising taxes on the rich can harm society?
What will be an ideal response?