When government spending is equal to the tax revenues during a specific time period, this is known as a

Assume there is a surplus in the market for hybrid automobiles. Which of the following statements correctly describes this situation?

A) The price of hybrid automobiles will fall in response to the surplus; as the price falls the quantity demanded will increase and the quantity supplied will decrease. B) Some consumers will be unable to obtain hybrid automobiles at the market price and will have an incentive to offer to buy the product at a higher price. C) The supply of hybrid automobiles is greater than the demand for hybrid automobiles. D) The surplus will cause an increase in the equilibrium price of hybrid automobiles.

Which of the following statements is true?

a. Free trade benefits a country when it exports but harms it when it imports. b. "Voluntary" limits on Canadian exports of hogs are better for the United States than U.S. tariffs placed on Canadian hog exports. c. Tariffs and quotas differ in that tariffs work like a tax and therefore impose deadweight losses, whereas quotas do not impose deadweight losses. d. Free trade benefits a country both when it exports and when it imports.