Author Question: How do imports affect buyers' consumer surplus? What will be an ideal ... (Read 22 times)

jilianpiloj

  • Hero Member
  • *****
  • Posts: 521
How do imports affect buyers' consumer surplus?
 
  What will be an ideal response?

Question 2

An example of household production excluded from GDP is
 
  A) household cleaning services provided by Merry Maids Incorporated.
  B) child care provided by a certified nanny.
  C) tree trimming you provide at your parents' home.
  D) plumbing work completed by Joe Fix-it.
  E) lawn care provided by a local lawn care company.



epscape

  • Sr. Member
  • ****
  • Posts: 335
Answer to Question 1

Consumer surplus increases. It increases because imports lower the price of the good being imported, so buyers purchase more of the good and hence their consumer surplus increases.

Answer to Question 2

C



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

For a complete list of videos, visit our video library