The sentiment for increased deregulation in the late 1970's and early 1980's has been felt most significantly in the price regulation of

Based on Scenario 6.1 above, if a tariff of 20 percent is placed on imports of dining room tables, and another tariff of 50 percent is placed on imports of wood and parts, then the effective rate of protection on tables made in the United States is

A) 70 percent. B) 50 percent. C) 20 percent. D) 12.5 percent. E) 0 percent.

Based on evidence from the turn of the century, the income elasticity of flour and meal

a. is greater than one. b. is less than one. c. approaches infinity. d. equals zero.