The ________ plots the relationship between prices and the quantity that buyers are willing to purchase

China protected its fledgling auto industry through restrictive tariffs and quotas. What were their effects on the Chinese market?

a. China was able to lower the prices of autos domestically produced and imported. b. China's auto prices from 1995 to 2001 substantially increased. c. China's auto industry really never got off the ground despite high protection. d. China made a decision to import autos from Japan and export autos to the United States.

The best estimate for the size of overseas trade as a proportion of national income in 1774 is:

a. 0%-5%. b. 15%-20%. c. about 50%. d. 70%-75%.