Refer to Figure 6.4. What area represents the decrease in consumer surplus when the price of computers increases from $1,000 to $1,500?
A. b
B. b + e
C. b + c
D. a + b
B. b + e
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In 2014, approximately 47 percent of the U.S. public debt was held by
A) investment firms. B) individuals. C) private companies. D) foreigners.
Heteroskedasticity means that
A) homogeneity cannot be assumed automatically for the model. B) the variance of the error term is not constant. C) the observed units have different preferences. D) agents are not all rational.
If the United States imposes tariffs on steel imports the:
A. demand for steel shifts to the left and raises its market price. B. supply of the imported steel shifts to the left and raises its market price. C. demand for steel shifts to the left and lowers its market price. D. supply of steel shifts to the right and lowers its market price.
The escape clause in U.S. trade law:
a. enables the United States to withdraw from NAFTA. b. permits the U.S. government to impose trade barriers if fairly traded imports are the cause of significant injury to a U.S. industry and its workers. c. permits the government to impose trade remedies against nations that unfairly subsidize their exports to the United States. d. enables immigrants to return to their home countries.