Refer to the information provided in Figure 20.4 below to answer the question(s) that follow.
Figure 20.4Refer to Figure 20.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. After the tariff is imposed, ________ revenue in this country will be $500.
A. tariff
B. import
C. export
D. total
Answer: A
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A) to decrease income inequality in the United States B) to decrease income inequality in Europe but not the United States C) to increase income inequality in the United States D) have little effect on the distribution of income in market economies
The opportunity cost of a college education includes wages lost while enrolled in school
a. True b. False Indicate whether the statement is true or false
Preverse incentives
What will be an ideal response?
The primary function of the International Monetary Fund is
A. to provide loans only to private firms in developing countries. B. to make direct, irrevocable transfers of funds from wealthy nations to poor nations. C. to make loans aimed at promoting global stability and hence growth. D. to lend solely on the basis of a nation's relative poverty.