If the United States imposed a quota on the amount of salmon imported from Chile, the result would be ________ salmon prices in the United States and ________ in the quantity of salmon demanded in the United States
A) higher; an increase
B) higher; a decrease
C) lower; an increase
D) lower; a decrease
E) higher; no change
B
Economics
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Refer to Table 12-3. What will Arnie's output be and how much profit will he earn if the market price of basketballs is $5.00?
A) Q = 0; profit = -$10.00 B) Q = 3; profit = -$7.50 C) Q = 1; profit = -$10. D) Price and profit cannot be determined from the information given.
Economics
People who lost their jobs as hand-drawn animators because of the popularity of computer-generated 3D animation are examples of persons who are suffering
A) cyclical unemployment. B) frictional unemployment. C) seasonal unemployment. D) structural unemployment. E) unnatural unemployment.
Economics