If a 10 percent increase in price causes a 5 percent increase in quantity supplied, then supply is

A government policy of providing free public K-12 education is most consistent with

A) Pareto-efficiency. B) the First Theorem of Welfare Economics. C) the Second Theorem of Welfare Economics. D) the contract curve.

If the U.S. imposed an import quota on corn, then in the U.S

a. exports and imports would rise. b. exports and imports would fall. c. exports would rise and imports would fall. d. exports would fall and imports would rise.