57.Price, P48-44-40-36-32-28-24-20-16-12-8-4-0-9 10 11 12Quantity, QRefer to the above figure: the importing country imposes a tariff that raises the domestic price from $16to $24. But lowers the export price from $16 to $8. What is the gain in producer surplus?O A. $8о в. $24O C. $36O D. $3277.Price, P48744-40-36-32-28-24-20-16-12-8-4-0-110 11 12Quantity, Q28.Refer to the above figure: The importing country imposes a tariff that raises the domestic price from $16to $24. But lowers the export price from $16 to $8. As a result of the tariff government revenue isrespectively.and the prodution distortion loss isO A. $16: $8O B. $16: $4OC. $32: $8O D. $32: $430.CHAMPAGNEaLW= 5 hours per gallona'Lw = 4 hours per gallonSTRAWBERRIESНОМЕFOREIGNaLc = 4 hours per pounda'lc = 2 hours per poundWhich of the following statements are true?O A. Home has the absolute advantage in both strawberries and champagne and the comparative advantage in strawberriesO B. Home has the absolute and comparative advantage in champagne productionO C. Foreign has the absolute advantage in both strawberries and champagne production and the comparative advantage in champagne producxtionO D. Foreign has the absolute advantage in both Strawberries and champagne production and a comparative advantage in strawberry production101.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 thatO 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 everycountry.O C. nominal interest rates are measured in terms of a country's output, while real interest rates aremeasured in monetary terms.O D. nominal interest rates are measured in monetary terms, while real interest rates are measured interms of a country's output.O E. nominal interest rates can fluctuate, while real interest rates always remain fixed.

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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

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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