The figure below illustrates the impact of an export subsidy as imposed by a large country. No imports are permitted.The cost to the government of the indicated export subsidy is shown by area(s)

A. (a + b + c + d + e + f + g + h + i + j)
B. (c + h)
C. (b + c + d + f + g + h + i + j)
D. (b + c + d)


Answer: C

Economics

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If the Chinese constructed their national income accounts the way we do in the United States, then it would not include

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Inflation was the nation's number-one economic worry during

A. the 1920s. B. the late 1950s. C. the early 1960s. D. the 1970s.

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Figure 21-5 (a) (b) Refer to Figure 21-5. In graph (b), what is the price of good Y relative to the price of good X (i.e., PY/PX)?

a. 3 b. 1 c. 10 d. 1/3

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Refer to the above table. When the quantity of labor equals 4, what does the average product equal? 

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Economics