What type of spillovers do the United States and the European Union governments believe are associated with their domestic solar panel production?

"Mediocre economists often consider only the immediate direct effects of a change, whereas a good economist will also consider indirect effects that may only become observable over time." This statement most clearly emphasizes

a. the law of comparative advantage. b. the importance of secondary effects. c. the gains derived from voluntary exchange. d. economizing behavior.

Suppose there is a permanent shift of consumer preferences away from pretzels and toward potato chips. The most likely result would be

A. short-run profits in the potato chip market increase. B. in the short run, economic losses in the potato chip market. C. in the long run, a fall in the supply of potato chips. D. in the short run, a rise in the price of pretzels.