Refer to figure 7 2 with the tariff in place the

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International Economics
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Chapter 4 / Exercise 1
International Economics
Carbaugh
Expert Verified
128)Refer to Figure 7-2.With the tariff in place, the United StatesA) exports 38 million pounds of coffee.B) imports 18 million pounds of coffee.C) imports 20 million pounds of coffee.D) imports 12 million pounds of coffee.128)Answer: C
Page Ref: 298/228Learning Outcome: Micro-5: List ways in which governments intervene in markets and explain theconsequences of such intervention.129)Refer to Figure 7-2.As a result of the tariff, domestic producers increase their quantity suppliedby
Page Ref: 298/228Learning Outcome: Micro-5: List ways in which governments intervene in markets and explain theconsequences of such intervention.130)Refer to Figure 7-2.The increase in domestic producer surplus as a result of the tariff is equal to
Page Ref: 298/228Learning Outcome: Micro-5: List ways in which governments intervene in markets and explain theconsequences of such intervention.131)Refer to Figure 7-2.The tariff causes domestic consumption of coffee
Page Ref: 298/228Learning Outcome: Micro-5: List ways in which governments intervene in markets and explain theconsequences of such intervention.30
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International Economics
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Chapter 4 / Exercise 1
International Economics
Carbaugh
Expert Verified
132)Refer to Figure 7-2.The loss in domestic consumer surplus as a result of the tariff is equal toA) $5 million.B) $19.875million.C) $24.875million.D) $31.125million.Answer: D
132)
Page Ref: 298/228Learning Outcome: Micro-5: List ways in which governments intervene in markets and explain theconsequences of such intervention.133)Refer to Figure 7-2.If the tariff was replaced by a quota which limited coffee imports to 20million pounds, the amount of revenue received by coffee importers would equal133)
Page Ref: 298/228Learning Outcome: Micro-5: List ways in which governments intervene in markets and explain theconsequences of such intervention.

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