Refer to Table 3-2. The table above shows the demand schedules for caviar of two individuals (Ari and Sonia) and the rest of the market. If the price of caviar rises from $65 to $75, the market quantity demanded would

In the 1980s, the U.S. current account deficit was financed by:

a. large outflows of domestic capital to other countries. b. large inflows of capital from private foreign investment in the United States. c. loans made by U.S. residents to the government. d. large inflows of foreign government capital. e. the Tax Reform Act of 1986, which increased income taxes for the wealthy.

Other things being equal, the more elastic demand is: a. the lower the deadweight loss is resulting from the imposition of a particular tax on a product. b. the greater the deadweight loss is resulting from the imposition of a particular tax on a product. c. the greater the fraction is of the burden of the tax borne by consumers

d. the greater the tax revenue collected by the government is.