The above figure shows the U.S. market for 1 carat diamonds. Area A + area B + area C + area D is the
A) deadweight loss from the import quota.
B) importers' profit from the quota.
C) decrease in consumer surplus due to the import quota.
D) gain in total surplus due to the import quota.
E) increase in producer surplus due to the import quota.
C
Economics
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Entrepreneurship couldĀ bestĀ be classified as:
A. simple labor. B. highly specialized labor. C. creative labor. D. unskilled labor.
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Extremely rapid rates of money growth are usually the result of:
A. sharp increases in productivity. B. rapid population growth. C. large government budget deficits. D. excessively high interest rates.
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