Honus Wagner, a major league baseball player from 1897 to 1917 and one of the first five men inducted into the Baseball Hall of Fame, had his baseball card pulled from cigarette packs because he wasn’t being paid for their distribution. What best describes the effect of his action on the market for his baseball card?

If the United States imposes tariffs on steel imports:

A Wall Street Journal headline reads: “Cigar shortage Draws New Brands into Market.” The shortage resulted from a renewed interest in smoking cigars. What best describes the facts behind the headline?

Rent control makes apartments:

In the 1990, the UN placed trade sanctions on Iraq oil. In 1996, Iraq was allowed limited export of oil to make war reparations. What was the predicted effect of the two events on equilibrium price ad quantity of oil?

An increase in quantity and an indeterminate change in price are consistent with a:

New York City has been experiencing a housing emergency for quite some time. Apartments are difficult to come by. In fact, the vacancy rate has been below 5 percent since World War II. The most likely case of the housing emergency is:

Suppose the price of tomatoes dramatically increases. Which of the following could cause this change?

If the government imposes an excise tax on a good equal to $5 per unit and the demand curve for this good is vertical, the supply of this good will shift:

A decrease in quantity and the price is consistent with a:

A Wall Street Journal headline reads: “Cigar Shortage Draws New Brands Into Market.” The shortage resulted from a renewed interest in smoking cigars. What best describes facts behind the headline?

In a third-party system: