Quiz4M - a A b B c C d D 3 Import quotas and tariffs have each of the following in common EXCEPT a total surplus falls b deadweight losses occur c

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ECO 201 Quiz # 4 Dr. Antonio Saravia Figure 9-1 1. Refer to Figure 9-1. If this country chooses to trade, the price of baskets in this country would be a. $10 and 40 would be sold domestically. b. $10 and 105 would be sold domestically. c. $7 and 70 would be sold domestically. d. $7 and 40 would be sold domestically. Figure 9-10 2. Refer to Figure 9-10. The change in total surplus in this market because of trade is
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Unformatted text preview: a. A. b. B. c. C d. D 3. Import quotas and tariffs have each of the following in common EXCEPT a. total surplus falls. b. deadweight losses occur. c. producer surplus increases. d. revenue to government is raised. Quiz4 Answer Section MULTIPLE CHOICE 1. ANS: A DIF: 3 REF: SECTION: 1 OBJ: TYPE: M 2. ANS: D DIF: 2 REF: SECTION: 2 OBJ: TYPE: M 3. ANS: D DIF: 2 REF: SECTION: 2 OBJ: TYPE: M...
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This note was uploaded on 04/18/2008 for the course ECO 201 taught by Professor Saravia during the Spring '08 term at American University of Sharjah.

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Quiz4M - a A b B c C d D 3 Import quotas and tariffs have each of the following in common EXCEPT a total surplus falls b deadweight losses occur c

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