If U.S. consumption falls short of U.S. production, the U.S. imports the difference

In the above figure, which point represents a situation with significant shortages of labor, capital, and other resources?

A) point F B) point G C) point I D) point K

Refer to Figure 6-6. As price falls from PA to PB, the quantity demanded increases most along D1; therefore

A) D1 is more elastic than D2 or D3 B) D1 is more inelastic than D2 or D3. C) D1 is elastic at PA but inelastic at PB. D) D1 is unit elastic.