Homework 8 40-44

# Homework 8 40-44 -...

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Homework 8 Submitted by [email protected] on 10/22/2008 7:41:40 PM  Points Awarded  19 Points Missed  0 Percentage  100% 1. Official government statistics permit calculation of the average U.S. tariff rate starting in which  year? A. 1776 B. 1795 C. 1821 D. 1865 E. 1911 See the article by Doug Irwin in Lesson 40.  Irwin supplemented the official statistics with his own  research to calculate average tariff rates back to 1790. Points Earned: 1/1 Correct Answer: C Your Response: C 2. For the United States, the average tariff rate in the 1790s was  approximately A. 0 B. 5 percent. C. 10 percent. D. 15 percent. E. 20 percent. F. 25 percent. See Irwin's article in Lesson 40. Points Earned: 1/1 Correct Answer: D Your Response: D 3. At which president's request did the United States Congress impose a nearly complete embargo  on imports?

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A. Madison B. Monroe C. Jefferson D. T. Roosevelt. E. Hoover See the Irwin's article in Lesson 40. Points Earned: 1/1 Correct Answer: C Your Response: C 4. With respect to the embargo mentioned in the previous question, Irwin estimated the deadweight  cost to the U.S. economy as A. 1 percent of GDP. B. 5 percent of GDP. C. 7.5 percent of GDP. D. 10 percent of GDP. E. 15 percent of GDP. See Irwin's article in Lesson 40 Points Earned: 1/1 Correct Answer: B Your Response: B 5. For the United States, the average tariff rate in the 1830 was approximately A. 0 B. 15 percent. C. 20 percent. D. 25 percent. E. 30 percent. F. 35 percent. G.
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## This note was uploaded on 02/25/2011 for the course ECON 340 taught by Professor Leidholm during the Spring '08 term at Michigan State University.

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Homework 8 40-44 -...

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