Suppose Motorland's government imposes a tax of $1.50 per gallon of gasoline sold. With the tax, when the market is in equilibrium, the deadweight loss is

If the price in the market for a commodity is above the market equilibrium price, the:

A) price will remain unchanged. B) price will rise to clear the market. C) quantity supplied exceeds the quantity demanded. D) quantity demanded exceeds the quantity supplied

The United States has a trade ________ with all its major trading partners and a trade ________ with every region of the world except for Latin America

A) deficit; deficit B) deficit; surplus C) deficit; balance D) surplus; deficit E) surplus; surplus