Author Question: The greater the substitutability between Northwest timber and Southeast timber, the ________ is the ... (Read 206 times)

cagreen833 · **on:** Jun 29, 2018

The greater the substitutability between Northwest timber and Southeast timber, the ________ is the cross elasticity of demand between timber from the two regions and the ________ is the elasticity of demand for Northwest timber.

A) smaller; smaller
B) smaller; larger
C) larger; smaller
D) larger; larger

Question 2

Using the data in the above table, if exports = 1,150 billion and the private sector runs a surplus of 300 billion, the government sector will run

A) a surplus of 150 billion.
B) a surplus of 450 billion.
C) a deficit of 150 billion.
D) a deficit of 450 billion.