Refer to the above figures. A quota is placed on a foreign good. Which figure represents the situation in the domestic market for a competing domestic good?

When we look at real GDP since 1970 or so, we see that recessions are evenly spaced over the years.

a. true b. false

To an economist, "value" is the same as

A) marginal cost. B) consumer surplus. C) the minimum price that people are willing to pay for another unit of the good. D) marginal benefit. E) total surplus.