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Author Question: If a quota is imposed on imports of shrimp into the United States, U.S. consumer surplus from shrimp ... (Read 214 times)

pane00

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on: Jun 29, 2018
If a quota is imposed on imports of shrimp into the United States, U.S. consumer surplus from shrimp will ________ and U.S. producer surplus from shrimp will ________.
 
  A) increase; increase
  B) increase; decrease
  C) decrease; increase
  D) decrease; decrease
  E) increase; not change

Question 2

Other things remaining the same, which of the following is likely to happen if there is a decrease in the price of cars?
 
  A) There will be a decrease in both the wage rate and the employment levels in the petroleum extraction industry.
  B) There will be an increase in the wage rate and a decrease in the employment levels in the petroleum extraction industry.
  C) There will be a decrease in the wage rate and an increase in the employment levels in the petroleum extraction industry.
  D) There will be an increase in both the wage rate and the employment levels in the petroleum extraction industry.


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ashely1112

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


pane00

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Reply #2 on: Jun 29, 2018
Correct answers!


ashely1112

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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