If U.S. buyers purchased $500 billion of foreign goods and foreign buyers purchased $400 billion of U.S. goods, the U.S. balance of trade would be:

Refer to Figure 4-6. What is the value of producer surplus after the imposition of the price floor?

A) $3,000 B) $3,600 C) $4,200 D) $4,500

Firm X owns both a grocery store and the parking lot outside the grocery store. In order to increase the traffic at the store it must

a. Decrease the prices on the goods sold in the store b. Decrease the parking rates c. All of the above d. None of the above