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Exam_1_Yellow_Econ_252_Spring_2006

# Exam_1_Yellow_Econ_252_Spring_2006 - Econ 252...

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1. A tariff imposed on imports of steel will benefit: a) domestic producers of steel c) foreign producers and consumers of steel b) domestic consumers of steel d) All of the above. 2. To produce good A, a producer uses 2 units of good B and 3 units of good C. He pays \$2.00 for each unit of good B and \$1.00 for each unit of good C. He sells good A for \$10.00 per unit. The value added in production of good C is _____ per unit produced. 3. We discover that variables X and Y are positively correlated. We may conclude:
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Exam_1_Yellow_Econ_252_Spring_2006 - Econ 252...

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