The inflation associated with the oil embargoes of the 1970s illustrated the _____ of the downward-sloping Phillips curve in the long run, as unemployment _____ during this period

The imposition of a quota ________ domestic production, ________ imports, and ________ domestic purchases

A) decreases; increases; decreases B) increases; decreases; increases C) increases; decreases; decreases D) decreases; decreases; decreases E) increases; increases; increases

Refer to Figure 9.8. A $50 tariff would result in domestic consumption of

A) 600, domestic production of 100, and imports of 500. B) 500, domestic production of 200, and imports of 300. C) 400, domestic production of 300, and imports of 100. D) 300, domestic production of 400, and exports of 100. E) 200, domestic production of 500, and exports of 300.