You decide to take a vacation and the trip costs you $2,000. While you are on vacation, you do not go to work where you could have earned $750. In terms of dollars, the opportunity cost of the vacation is

A quota will typically

A. increase the price paid by consumers. B. increase the price received by sellers. C. increase the price received by sellers and increase the price paid by consumers. D. reduce the price received by sellers.

Historical evidence seems to indicate that

A. budget and trade deficits generally move in the same direction. B. there is no consistent relationship between trade and budget deficits. C. trade and budget deficits decrease when the president is a Republican, and increase when the president is a Democrat. D. budget and trade deficits generally move in the opposite direction.