EC2106F08PS9 - Name: _ Class: _ Date: _ ID: A Practice...

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Name: ________________________ Class: ___________________ Date: __________ ID: A 1 Practice Problem for Ch 9 Multiple Choice Identify the letter of the choice that best completes the statement or answers the question. Figure 9-14 ____ 1. Refer to Figure 9-14 . The amount of government revenue created by the tariff is a. B. b. E. c. D + F. d. B + D + E + F. ____ 2. Refer to Figure 9-14 . For the saddle market, area B represents a. government’s revenue from the tariff. b. the deadweight loss of the tariff. c. the increase in producer surplus, relative to the free-trade situation, as a result of the tariff. d. None of the above is correct.
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ID: A 2 Figure 9-10 ____ 3. Refer to Figure 9-10 . Consumer surplus in this market before trade is a. A. b. B + C. c. A + B + D. d. C. Figure 9-15. The figure below illustrates a tariff. On the graph, Q represents quantity and P represents price. ____ 4. Refer to Figure 9-15. The deadweight loss created by the tariff is represented by the area a. B. b.
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This note was uploaded on 02/08/2011 for the course ECON 2106 taught by Professor Minjaesong during the Fall '06 term at Georgia Institute of Technology.

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EC2106F08PS9 - Name: _ Class: _ Date: _ ID: A Practice...

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