The export supply and import demand curves measure the domestic shortage and surplus, respectively, at different world prices

Using the data in the above table, in the long-run macroeconomic equilibrium, the price level is ________ and the level of real GDP is ________

A) 115; $10 trillion B) 110; $10 trillion C) 105; $11 trillion D) 115; $11 trillion

If the U.S. imposed a quota on motorcycle imports from Japan it would lead to a _____ quantity imported, and a _______ quantity produced in the U.S.

A. lower; higher B. higher; lower C. lower; lower D. higher; higher