Refer to the following graph.
With a tariff of $10 a blouse on imported silk blouses from China, the revenue the government would collect from the import of silk blouses from China would be:
A. $20,000.
B. $2,800.
C. $7,000.
D. $0.
Answer: C
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Real planned investment spending is inversely related to
A) wealth. B) the interest rate. C) real disposable income. D) producer expectations of future profit.
If you are willing to purchase a house for $500,000 and you purchase the house for $500,000 . this transaction will generate: a. There is no surplus created for either of the party
b. $0 worth of seller surplus and unknown amount of buyer surplus. c. $0 worth of buyer surplus and unknown amount of seller surplus. d. No information provided.
Wealthy countries increasingly feel that trade:
A. is sometimes acting as a barrier to poorer countries' development. B. is an effective political tool to use against poorer countries. C. can sometimes be a more powerful lever than aid to help poorer countries develop. D. can help poorer countries development, but hurt their overall growth.
If the supply curve for housing is perfectly inelastic, a reduction in demand will cause the equilibrium price to: a. rise and the equilibrium quantity to fall
b. rise and the equilibrium quantity to stay the same. c. fall and the equilibrium quantity to fall. d. fall and the equilibrium quantity to stay the same.