In the figure above, with the tariff the United States imports ________ million shirts per year
A) 24
B) 8
C) 32
D) 16
D
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Jim is haggling with a car dealer on the price of a used car. During the bargaining, the storekeeper discovers that the car's stereo is better than he or Jim originally realized. If Jim is a huge music fan, the total surplus available from the sale
a. Increases b. Decreases c. Is not affected d. All of the above
A change in price that has relatively little effect on quantity demanded is called elastic demand
Indicate whether the statement is true or false
Which of the following countries meets or exceeds the U.N.'s Millennium Aid Goal of 0.7 percent of donor country GDP?
A. The United Kingdom. B. Australia. C. Norway. D. Japan.
To maximize its profit, a firm with two plants should
A. produce the output at which total marginal cost equals marginal revenue. B. choose the profit-maximizing output then allocate it equally between the two plants. C. allocate output so that marginal cost is the same in two plants D. both a and b E. both a and c