The above figure shows supply and demand curves for milk. If the government passes a $2 per gallon specific tax, the welfare loss will equal
A) j.
B) f + g.
C) b + c + f + g.
D) c + g.
B
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The reduction in global poverty between 1990 and 2006 is almost entirely due to the decline in poverty in India
Indicate whether the statement is true or false
Protection of new products from global competition is known as
A) the infant-industry argument. B) dumping. C) a quota. D) protection of domestic jobs.
Of the following, which could cause the demand curve for personal computers to shift to the left?
a. a decrease in the price of personal computers b. an increase in the price of computer software c. a decrease in the price of computer software d. an increase in wealth (assuming personal computers are a normal good) e. expectations of an increase in the price of personal computers in the future
Due to a recent hurricane there is a major loss of sugarcane crops. At the same time in the U.S. consumers are eating healthier and cutting back on eating items that have sugar in them. How will this affect the price and quantity in the sugar market?
A. Price increases and quantity is indeterminate B. Quantity increases and price is indeterminate C. Quantity decreases and price is indeterminate D. Price decreases and quantity is indeterminate