When an imported good has restrictions are placed on it that limits the amount that can be imported and as a result the price of the good increases, the demand curve for that good will
A) shift rightward.
B) shift leftward.
C) become steeper.
D) be unaffected.
D
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Indicate whether the statement is true or false
Suppose we have the following information about a furniture maker: furniture sales $100M, wood purchases $60M, wages $25M, tax on profits $5M, profits $10M. What is the contribution to GDP of this company using the product approach?
A) $100M. B) $60M. C) $40M. D) $15M.
For the monopolistically competitive firm, the steepness of the demand curve depends on:
A. the number of consumers in the market. B. the steepness of the MC curve. C. the availability of close substitutes. D. None of these statements is correct.
Consider the monopoly in the figure below with price regulated at $20 per unit. Consumer surplus at the regulated price is: 
A. $500. B. $2,300. C. $3,920. D. There is insufficient information to determine consumer surplus.