_______ is the percentage change in the quantity of good A that is demanded as a result of a percentage change in the price of good B.

The above figure shows the market for rice in Japan where price is expressed in dollars. S represents the domestic supply curve, and the horizontal line at P = $1 represents the world supply curve

If a $1 tariff is imposed on imported rice, the loss in social welfare is A) b + c + d + e. B) a. C) i. D) a + c + d + e.

In most developing countries, an effective fiscal policy is:

A. easier to conduct than in developed economies, because there are fewer institutional checks and balances. B. harder to conduct, because fiscal policy is discretionary in developing countries, unlike developed countries. C. easier to conduct than in developed economies, because politicians tend to be more socially-minded. D. harder to conduct, because taxes are difficult to collect.