Suppose the demand for tacos decreases. What will happen to producer surplus in the market for tacos?

Using the table above, and assuming no bequest, what amount of consumption is chosen in period 1, if the consumer wants consumption in the two periods to be equal?

If initial wealth is $40,000, what amount of consumption is equal over the two periods?

In the 1930s, the United States charged an average tariff rate ________. Today, the rate is ________

A) of 100 percent; 20 percent B) above 50 percent; less than 1.5 percent C) of less than 10 percent; over 40 percent D) of 17 percent; 33 percent