An unexpected import restriction imposed on mangoes by the USDA
A) will reduce the price of mangoes in the United States.
B) will increase the price of mangoes in the United States.
C) will discourage American producers of mangoes.
D) will reduce the price of mango juice in the United States.
B
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In the following table, the United States has an absolute advantage in producing___________?
| COUNTRY | POTATOES | WHEAT |
| United States | 4 | 2 |
| Ireland | 3 | 1 |
Are there ever exceptions to the law of demand?
What will be an ideal response?
How does age affect the amount of income people earn?
Dave consumes two normal goods, X and Y, and is currently at an optimum. If the price of good X falls, we can predict with certainty that
a. Dave will consume more of both goods because his real income has risen. b. the substitution effect will be positive for good X and negative for good Y. c. Dave may consume more or less of good X, but he will consume less of good Y. d. the substitution effect will offset the income effect for good X.