Refer to Figure 18.4. With an import ban, what is the equilibrium quantity of gloves in Duckland?

In 2011, the per-capita GDP in the United States, in 2005 dollars, was about

A) $17,500. B) $27,500. C) $43,000. D) $47,500.

The two conditions for a valid instrument are

A) corr(Zi, Xi) = 0 and corr(Zi, ui) ≠ 0. B) corr(Zi, Xi) = 0 and corr(Zi, ui) = 0. C) corr(Zi, Xi) ≠ 0 and corr(Zi, ui) = 0. D) corr(Zi, Xi) ≠ 0 and corr(Zi, ui) ≠ 0.