If you based your estimate on how long it took poor regions of the United States to catch up to the per capita incomes of the rest of the nation, how long do you believe it would take Eastern Europe to obtain per capita incomes comparable to those of Western Europe?

The demand curve shown in the figure above is ________ over the price range from $95 to $105 per unit

A) perfectly elastic B) perfectly inelastic C) unit elastic D) elastic but not perfectly elastic E) inelastic but not perfectly inelastic

Which of the following is true of an import quota?

a. is a tax of imported goods b. limits quantity of imports allowed into a country c. will decrease the price of imported goods d. will raise revenue for the government e. helps to address a balance of trade surplus