Author Question: Refer to Figure 7-3. What is the value of revenue to foreign producers who are granted permission to ... (Read 73 times)

futuristic · **on:** Jun 29, 2018

Refer to Figure 7-3. What is the value of revenue to foreign producers who are granted permission to sell in the U.S. market when there is a quota?

A) 12 million B) 17.25 million C) 20 million D) 44 million

Question 2

If the long-run aggregate supply curve is vertical,

A) the trade-off between unemployment and inflation cannot be permanent.
B) the short-run Phillips curve must be vertical.
C) the economy stays at the natural rate of inflation in the long run.
D) unemployment and inflation are positively related in the long run.