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Author Question: Which of the following is correct? i. U.S. total surplus decreases when the United States exports a ... (Read 37 times)

809779

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on: Jun 29, 2018
Which of the following is correct? i. U.S. total surplus decreases when the United States exports a good. ii. U.S. total surplus decreases when the United States imports a good. iii. U.S.
 
  total surplus increases when the United States imports a good and when it exports a good. A) i only
  B) iii only
  C) i and ii
  D) ii only
  E) None of the above because the U.S. total surplus does not change as a result of trade

Question 2

Deadweight loss refers to the loss in ________.
 
  A) producer surplus due to a fall in the market price
  B) consumer surplus due to an increase in the market price
  C) total surplus due to a market distortion such as an externality
  D) total surplus due to a change in consumers' preferences


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livaneabi

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

B

Answer to Question 2

C


809779

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

smrtceo

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Reply 3 on: Yesterday
:D TYSM

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