You borrow $20,000 at an interest rate of 6% to open Candy Dan's, a gourmet sweet shop. If the return on your investment is ________, then you will earn an economic loss.

In a large country case, an optimal tariff is one for which the terms-of-trade gain exceeds the:

a. producer surplus. b. increased price of the product imported. c. deadweight loss. d. consumer surplus.

An inferior good has a ________ income elasticity of demand and quantity demanded ________ as income rises

A) negative; increases B) negative; decreases C) positive; increases D) positive; decreases