A tax of $1 on buyers shifts the demand curve downward by exactly $1

Refer to Table 9-12. If the actual terms of trade are 1 belt for 1.5 swords and 50 belts are traded, how many belts will Estonia gain compared to the "without trade" numbers?

A) 0 B) 10 C) 40 D) 50

During periods of high inflation, such as the 1979-1980 period, the existence of usury laws may cause

a. nominal rates of interest to be above real rates. b. negative nominal rates of interest. c. negative real rates of interest. d. real rates of interest to be above nominal rates.