The figure above shows the U.S. demand and U.S. supply curves for cherries. At a world price of $2 per pound, the total imports of cherries to the United States from other nations equals
A) 200,000 pounds.
B) 400,000 pounds.
C) 600,000 pounds.
D) 800,000 pounds.
E) 0 pounds.
E
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Which of the following best describes a situation of moral hazard?
a. Sicker people are more likely to buy health insurance. b. Prospective used-car buyers have less information about a particular car than its seller does. c. Drivers with collision insurance drive more recklessly. d. Drivers with collision insurance wear seatbelts less often.
Which of the following describes the benefits of specialization in a free market?
Adding government to the Barro model affects the household budget constraint by
a. adding the present value of real transfers net of real taxes as a source of funds. b. adding the present value of real transfers plus real taxes as a use of funds. c. adding and subtracting the present value of real transfers net of real taxes as a source of funds, for no net effect. d. subtracting the present value of real transfers net of real taxes as a use of funds.
The big jump in the unemployment rate that occurred in 2009 can best be explained as an increase in
A. structural unemployment. B. frictional unemployment. C. cyclical unemployment. D. natural unemployment.