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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

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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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.
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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