Refer to Figure 9-5. As a result of the tariff, domestic producers increase their quantity supplied by
A) 6 million pounds of coffee. B) 18 million pounds of coffee.
C) 26 million pounds or coffee. D) 38 million pounds of coffee.
A
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Use the following table to answer the question below.Alexandra's Production Possibilities ScheduleNatalia's Production Possibilities ScheduleNumber of Scarfs Knitted per dayNumber of Sweaters Knitted per dayNumber of Scarfs Knitted per hourNumber of Sweaters Knitted per hour040433236242916112080Who should specialize in knitting sweaters?
A. Alexandra B. Natalia C. Both Natalia and Alexandra D. Neither Natalia nor Alexandra
Why doesn't the process of electing officials prevent rent-seeking and corruption?
A. The cost of gathering such information is often too costly. B. Those who win special favors through this behavior simply pay others off to keep them from whistleblowing. C. It actually does prevent this behavior in the real world. D. People are generally disinterested in preventing both of these in government.
There is a shortage of quantity demanded over quantity supplied when
A. market price is above equilibrium price. B. market price equals equilibrium price. C. market price is below equilibrium price.
Name the problems government faces in directing and managing the economy
Please provide the best answer for the statement.