When a country that exported a particular good abandons a free-trade policy and adopts a no-trade policy,
a. consumer surplus increases and total surplus increases in the market for that good.
b. consumer surplus increases and total surplus decreases in the market for that good.
c. consumer surplus decreases and total surplus increases in the market for that good.
d. consumer surplus decreases and total surplus decreases in the market for that good.
b
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Refer to Figure 4.1. Alvin's available strategies include
A) top and bottom. B) up and down. C) left and right. D) all of the above
Suppose the CPI last year was 82.3 and this year is 90.9. Based on this information, we can calculate that the inflation rate in 1981 was
A) 10.4 percent. B) 8.6 percent. C) 90.9 percent. D) 82.3 percent. E) 9.09 percent.
An industrial union is a union composed of
A. workers in numerous occupations but working in the same industry. B. workers in manufacturing industries, rather than in the commercial, service, or government sectors. C. workers sharing a similar industrial job. D. high-wage workers.
Which of the following reasons is not a likely explanation as to why college completion rates are greater, on average, for whites than for blacks?
A. Tuition costs are lower for whites than blacks. B. Whites have access to more financial capital to pay for college than blacks. C. Postcollege wages are higher for whites than for blacks. D. Whites are more able to postpone earnings at age 18 than are blacks. E. Whites have greater access to higher quality public education at the elementary and secondary level.