Refer to the above figure: the importing country imposes a tariff that raises the domestic price from $16 to $24. But lowers the export price from $16 to $8. What is the gain in producer surplus? O A. $8 B. $24 C. $36 D. $32
Refer to the above figure: the importing country imposes a tariff that raises the domestic price from $16 to $24. But lowers the export price from $16 to $8. What is the gain in producer surplus? O A. $8 B. $24 C. $36 D. $32
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![57.
Price, P
48-
44-
40-
36-
32-
28-
24-
20-
16-
12-
8-
4-
0-
9 10 11 12
Quantity, Q
Refer to the above figure: the importing country imposes a tariff that raises the domestic price from $16
to $24. But lowers the export price from $16 to $8. What is the gain in producer surplus?
O A. $8
о в. $24
O C. $36
O D. $32
77.
Price, P
487
44-
40-
36-
32-
28-
24-
20-
16-
12-
8-
4-
0-
1
10 11 12
Quantity, Q
2
8.
Refer to the above figure: The importing country imposes a tariff that raises the domestic price from $16
to $24. But lowers the export price from $16 to $8. As a result of the tariff government revenue is
respectively.
and the prodution distortion loss is
O A. $16: $8
O B. $16: $4
OC. $32: $8
O D. $32: $4
30.
CHAMPAGNE
aLW= 5 hours per gallon
a'Lw = 4 hours per gallon
STRAWBERRIES
НОМЕ
FOREIGN
aLc = 4 hours per pound
a'lc = 2 hours per pound
Which of the following statements are true?
O A. Home has the absolute advantage in both strawberries and champagne and the comparative advantage in strawberries
O B. Home has the absolute and comparative advantage in champagne production
O C. Foreign has the absolute advantage in both strawberries and champagne production and the comparative advantage in champagne producxtion
O D. Foreign has the absolute advantage in both Strawberries and champagne production and a comparative advantage in strawberry production
101.
Which of the following is true?
O A. A country with a current account deficit must be increasing its net foreign debts by the amount of the deficit.
O B. A country with a current account surplus is earning more from its exports than it spends on imports.
OC. A country could finance a current account deficit by using previously accumulated foreign wealth to pay for its imports.
O D. We can describe the current account surplus as the difference between income and absorption.
O E. All of the above are true of current account balances.
93.
The difference between nominal and real interest rates is that
O A. real interest rates can fluctuate, while nominal interest rates always remain fixed.
O B. real interest rates are the same in every country, while nominal interest rates are different for every
country.
O C. nominal interest rates are measured in terms of a country's output, while real interest rates are
measured in monetary terms.
O D. nominal interest rates are measured in monetary terms, while real interest rates are measured in
terms of a country's output.
O E. nominal interest rates can fluctuate, while real interest rates always remain fixed.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa7d6464a-9826-47b4-8e80-34fd05d6f0dd%2Fa6a732d4-5eac-4937-bbba-d056b3da1b39%2Fa709cm1_processed.jpeg&w=3840&q=75)
Transcribed Image Text:57.
Price, P
48-
44-
40-
36-
32-
28-
24-
20-
16-
12-
8-
4-
0-
9 10 11 12
Quantity, Q
Refer to the above figure: the importing country imposes a tariff that raises the domestic price from $16
to $24. But lowers the export price from $16 to $8. What is the gain in producer surplus?
O A. $8
о в. $24
O C. $36
O D. $32
77.
Price, P
487
44-
40-
36-
32-
28-
24-
20-
16-
12-
8-
4-
0-
1
10 11 12
Quantity, Q
2
8.
Refer to the above figure: The importing country imposes a tariff that raises the domestic price from $16
to $24. But lowers the export price from $16 to $8. As a result of the tariff government revenue is
respectively.
and the prodution distortion loss is
O A. $16: $8
O B. $16: $4
OC. $32: $8
O D. $32: $4
30.
CHAMPAGNE
aLW= 5 hours per gallon
a'Lw = 4 hours per gallon
STRAWBERRIES
НОМЕ
FOREIGN
aLc = 4 hours per pound
a'lc = 2 hours per pound
Which of the following statements are true?
O A. Home has the absolute advantage in both strawberries and champagne and the comparative advantage in strawberries
O B. Home has the absolute and comparative advantage in champagne production
O C. Foreign has the absolute advantage in both strawberries and champagne production and the comparative advantage in champagne producxtion
O D. Foreign has the absolute advantage in both Strawberries and champagne production and a comparative advantage in strawberry production
101.
Which of the following is true?
O A. A country with a current account deficit must be increasing its net foreign debts by the amount of the deficit.
O B. A country with a current account surplus is earning more from its exports than it spends on imports.
OC. A country could finance a current account deficit by using previously accumulated foreign wealth to pay for its imports.
O D. We can describe the current account surplus as the difference between income and absorption.
O E. All of the above are true of current account balances.
93.
The difference between nominal and real interest rates is that
O A. real interest rates can fluctuate, while nominal interest rates always remain fixed.
O B. real interest rates are the same in every country, while nominal interest rates are different for every
country.
O C. nominal interest rates are measured in terms of a country's output, while real interest rates are
measured in monetary terms.
O D. nominal interest rates are measured in monetary terms, while real interest rates are measured in
terms of a country's output.
O E. nominal interest rates can fluctuate, while real interest rates always remain fixed.
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