If the price of calculators increases by 15% and the quantity demanded per week falls by 45% as a result, then the price elasticity of demand is 3

It is possible to determine how much a nation will export over and above its domestic consumption at various international prices, other things being equal, by finding a set of equilibria. This schedule is:

a. the import demand curve for a nation. b. the export supply curve for a nation. c. the production possibilities frontier for a nation. d. the "notrade" equilibrium.

The increase in the demand for widgets, shown in the figure above, is the result of an increase in the price of McBoover devices. Therefore

A) widgets and McBoover devices are substitutes. B) widgets and McBoover devices are complements. C) widgets are a normal good. D) McBoover devices are a normal good.