True or False: Without engaging in international trade, Maldonia and Lamponia would not have been able to consume at the after-trade consumption bundles. (Hint: Base this question on the answers you previously entered on this page.) O True O False

K Click on the icon to read the news clip, then answer the following questions The graph shows the market for milk in Venezuela when a price control is in effect Draw a shape that represents 1) consumer surplus Label it CS 2) producer surplus Label it PS 3) the deadweight loss Label it DWL Also draw a shape that show the resources lost from time spend in line Label it Loss Moving from a milk market with no price controls to a milk with price controls, surplus and producer surplus OA. increases, decreases OB. increases, increases OC. decreases, decreases OD. decreases, increases 60- 50- Price (bolivars per gallon) 40 40- 30- consumer 20- 10+ 0 100 200 S Price control D 300 300 400 500 600 700 Quantity (gallons of milk) >>> Draw only the objects specified in the question

A World View article titled "Imported Wine Squeezing U.S. Vintners'' discusses foreign wine sold in the U.S. market. According to the article, the impact of the increasing import competition is_____   A. leading states to eliminate all subsidies due to the financial crisis that has left the budget in disarray. B. encouraging more California vintners to enter the market. C. causing domestic vintners to convert their vineyards into almond and avocado farms. D. resulting in a sharply increasing wine consumption rate in the United States.

The Economist magazine is famous for its publication of the Big Mac index-a table of Big MacTM prices in different countries around the world. The use of the Big Mac allows for a highly standardized product sold throughout the world. Part 2 Given the following abbreviated table: Country PriceBig Mac China Rb 24,000 Indonesia Rp 40,000 U.K. £2.50 U.S. $5.00 Part 3 If the 'Law of One Price' holds, what are the following implied exchange rates: $enter your response here = £1.00 (Enter your response rounded to the nearest penny.) Part 4 Rp enter your response here = $1.00 (Enter your response as an integer.)