(Consider This) Elasticity can be thought of as degree of relative:

The passage of the Employment Act of 1946 assigned: a. the federal government the responsibility for promoting full employment and price stability

b. the federal government the responsibility for promoting free markets to achieve economic prosperity. c. the federal government the responsibility to set a minimum wage for all agricultural workers. d. state governments the responsibility to set a minimum wage for all industrial workers. e. state governments the responsibility for promoting full employment and price stability.

According to the graph shown, if this economy were to open to trade, surplus would do all of the following except:

This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.

A. increase overall.
B. decrease for the producer.
C. transfer from producer to consumer.
D. create deadweight loss of CEFG.