Answer the Question(s)below Based on the Following Diagram

question 42

Multiple Choice

Answer the question(s) below based on the following diagram.

-Refer to the figure above.The quota generates deadweight costs of

• A)$10,000.
• B)$12,000.
• C)$30,000.
• D)$50,000.

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Definitions:

Personal Consumption Expenditures

The component of a nation's economy that includes the total amount spent by individuals and households on goods and services.

Market Value

The current price at which an asset or service can be bought or sold in the market.

Net Domestic Investment

The total investment in a country's economy in a given year, minus the depreciation on existing capital.

Gross Domestic Investment

The total amount of money that is invested within a country’s borders in the form of capital purchases and investments in construction and inventory changes.