The supply curve for land:
a. is almost perfectly elastic

If the government decides to impose a new tariff on orange juice from Brazil, the tariff would lead to ________ the tariff revenue collected by the U.S. government

A) no change in B) an increase in C) a decrease in D) an elimination of E) making illegal

The classical approach to macroeconomics assumes that

A) wages, but not prices, adjust quickly to balance quantities supplied and demanded in markets. B) wages and prices adjust quickly to balance quantities supplied and demanded in markets. C) prices, but not wages, adjust quickly to balance quantities supplied and demanded in markets. D) neither wages nor prices adjust quickly to balance quantities supplied and demanded in markets.