Refer to the figure below. If all buyers' reservation prices increase by $1.00, then the equilibrium price of coffee would: 
A. increase by more than $1.00.
B. would not change.
C. increase by less than $1.00.
D. increase by $1.00.
Answer: C
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Which of the following is a major reason for offshoring?
a. Advances in information and communication technologies. b. The inability of companies to fragment production processes. c. The gradual decline in worldwide competition. d. All of the above are major reasons for offshoring.
Goods that are not excludable include both
a. private goods and public goods. b. club goods and common resources. c. common resources and public goods. d. private goods and club goods.
Which of the following is (are) true regarding monetary policy targeting?
a. Since 1982, the Fed has emphasized money aggregate targets. b. Milton Friedman said that the Fed should pay more attention to interest rates and should focus less on growth of money supply. c. In the short run, it is useless to target interest rates as a tool of policy. d. In 1979, the Fed deemphasized interest rates and targeted specific money aggregates.
Refer to Figure 18.4. With a tariff or quota, what is the equilibrium quantity of gloves in Duckland?
A. 100 B. 80 C. 60 D. 40