Refer to above figure. The loss of Consumer Surplus due to the tariff equals ________

Suppose the CPI in 1983 is 100 and the CPI this year is 172. These values for the CPI mean that

A) inflation between the two years was 172 percent. B) typically, a good whose price was $100 in 1983 had a price of $172 this year. C) typically, a good whose price was $172 in 1983 had a price of $100 this year. D) typically, a good whose price was $100 in 1983 had a price of $139 this year. E) typically, a good whose price was $100 in 1983 had a price of $58 this year.

A devaluation causes which of the following to occur in the medium run?

A) an increase in net exports B) an increase in the price level C) an increase in output D) all of the above E) none of the above