The United States and many other countries often impose trade sanctions on other countries. These sanctions
A) decrease producer and consumer surplus in both the sanctioned and sanctioning countries.
B) tend to increase total welfare.
C) tend to decrease the deadweight loss.
D) tend to decrease consumer and producer surplus only in the sanctioned country.
A
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Amber Crombie is a stay-at-home mom while her husband Fitch works two jobs. What can we clearly conclude?
A) Amber Crombie is unemployed. B) Fitch is employed. C) Amber Crombie is exploited. D) Fitch is exploited. E) All of the above are true.
Suppose the wiz-pop market is in long-run equilibrium. Suddenly, fixed costs decrease, although variable costs remain unchanged. Discuss the short-run and long-run changes in market equilibrium.
What will be an ideal response?
The following is not an example of risk aversion
a. you lock your garage when you have expensive workshop tools b. you are more careful when you buy a more expensive car c. Individuals tend to gamble more with their money when the future is uncertain d. you only go swimming when the lifeguard is on duty
Suppose Larry's Lariats produced 25,000 lassos and sold each for $10. What was the profit for this company?
A. $25,000 B. $250,000 C. $125,000 D. Cannot calculate profit without more information.