Which of the following describes the general effect of tariffs on producer surplus as shown in Exhibit 1?
a. eliminated
b. unchanged
c. decreased
d. increased
d. increased
You might also like to view...
If autonomous imports increase, then the aggregate expenditure curve shifts ________ and equilibrium real GDP ________
A) upward; increases B) downward; does not change C) downward; increases D) upward; decreases E) downward; decreases
Many Americans are selling their used cars and buying new fuel-efficient hybrids. Other things remaining the same, in the market for used cars, ________ and in the market for hybrids ________
A. supply increases and the price falls; demand increases and the price rises B. demand decreases and the price rises; supply increases and the price falls C. both demand and supply decrease and the price might rise, fall, or not change; demand increases and the price rises D. demand decreases, supply increases, and the price falls; supply in-creases and the price falls
Suppose the demand for strawberries rises sharply, resulting in an increased price for strawberries. As it relates to strawberry pickers, we could expect the:
A. MRP curve to shift to the right. B. MRP curve to shift to the left. C. MRC curve to shift downward. D. MP curve to shift downward.
By the late 1950s, dollars held by foreign central banks exceeded the official dollar value of U.S. gold reserves
Indicate whether the statement is true or false