Refer to Scenario 17.2. The lowest level of y* that can be set and still have only the high-productivity people meet it is

If the supply of a good is relatively inelastic, this means that the quantity supplied of the good is

a. not very sensitive to the price of the good. b. highly sensitive to the price of the good. c. unrelated to the price of the good. d. none of the above.

If this is an open economy, quantity of cars demanded domestically will be ________. 

A. 80,000 B. 20,000 C. 60,000 D. 40,000