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Trade restrictions in the real world
All of the above are correct.
20 percent decrease in the quantity demanded.
Tariff revenues go to government, but quotas benefit those with the right to sell foreign goods domestically
Midpoint of the curve.
The well-being of sellers.
Be negative and your roommate's would be positive.
Hurt domestic consumers and benefit domestic producers
How much buyers and sellers respond to changes in market conditions.
If the price elasticity of demand for a good is 2.0, then a 10 percent increase in price results in a
All of the above are correct.
20 percent decrease in the quantity demanded.
Tariff revenues go to government, but quotas benefit those with the right to sell foreign goods domestically
Midpoint of the curve.
The well-being of sellers.
Be negative and your roommate's would be positive.
Hurt domestic consumers and benefit domestic producers
How much buyers and sellers respond to changes in market conditions.
Producer surplus directly measures
All of the above are correct.
20 percent decrease in the quantity demanded.
Tariff revenues go to government, but quotas benefit those with the right to sell foreign goods domestically
Midpoint of the curve.
The well-being of sellers.
Be negative and your roommate's would be positive.
Hurt domestic consumers and benefit domestic producers
How much buyers and sellers respond to changes in market conditions.
In general, elasticity is a measure of
All of the above are correct.
20 percent decrease in the quantity demanded.
Tariff revenues go to government, but quotas benefit those with the right to sell foreign goods domestically
Midpoint of the curve.
The well-being of sellers.
Be negative and your roommate's would be positive.
Hurt domestic consumers and benefit domestic producers
How much buyers and sellers respond to changes in market conditions.
The primary difference between an import tariff and an import quota is that
All of the above are correct.
20 percent decrease in the quantity demanded.
Tariff revenues go to government, but quotas benefit those with the right to sell foreign goods domestically
Midpoint of the curve.
The well-being of sellers.
Be negative and your roommate's would be positive.
Hurt domestic consumers and benefit domestic producers
How much buyers and sellers respond to changes in market conditions.
When a country allows international trade and becomes an exporter of a good,
All of the above are correct.
20 percent decrease in the quantity demanded.
Tariff revenues go to government, but quotas benefit those with the right to sell foreign goods domestically
Midpoint of the curve.
The well-being of sellers.
Be negative and your roommate's would be positive.
Hurt domestic consumers and benefit domestic producers
How much buyers and sellers respond to changes in market conditions.
Total revenue will be at its largest value on a linear demand curve at the
All of the above are correct.
20 percent decrease in the quantity demanded.
Tariff revenues go to government, but quotas benefit those with the right to sell foreign goods domestically
Midpoint of the curve.
The well-being of sellers.
Be negative and your roommate's would be positive.
Hurt domestic consumers and benefit domestic producers
How much buyers and sellers respond to changes in market conditions.
You and your college roommate eat three packages of Ramen noodles each week. After graduation last month, both of you were hired at several times your college income. Your roommate still enjoys Ramen noodles very much and buys even more, but you plan
All of the above are correct.
20 percent decrease in the quantity demanded.
Tariff revenues go to government, but quotas benefit those with the right to sell foreign goods domestically
Midpoint of the curve.
The well-being of sellers.
Be negative and your roommate's would be positive.
Hurt domestic consumers and benefit domestic producers
How much buyers and sellers respond to changes in market conditions.
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