If price elasticity is greater than one, then demand is said to be elastic

To assist pineapple growers in Hawaii, the U.S. government decides to limit the number of pineapples allowed into the country that are grown in Central American countries

Such a restriction prevents many transactions from occurring, and results in opportunity loss which is called a(n) A) import deficit. B) deadweight loss of a quota. C) rent seeking loss. D) non-cooperative surplus.

Deflation will

A) increase the quantity of real GDP demanded. B) decrease aggregate demand. C) increase aggregate demand. D) decrease the quantity of real GDP demanded.