The above figure shows the market for rice in Japan. S2 represents the domestic supply curve, and S1 represents the world supply curve. Suppose a free market exists. An import quota of 30 units would
A) cause consumer surplus to fall by "e."
B) cause social welfare to fall by $30.
C) increase producer surplus by "d."
D) have no effect.
D
Economics
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The above table gives the initial balance sheet for Mini Bank. Mini Bank's actual reserve ratio equals ________
A) 25 percent B) 12.5 percent C) 33.3 percent D) 20 percent
Economics
Implicit costs are:
A. Equal to total fixed costs B. Comprised entirely of variable costs C. "payments" for self-employed resources D. Always greater in the short run than in the long run
Economics