Figure (a) represents the domestic demand and supply of televisions. Suppose free trade is allowed and the current world price of televisions is P1 as shown in Figure (b). Now suppose the domestic government imposes a tariff increasing the domestic price to P2 in Figure (b). This tariff
a. Q3 minus Q1.
b. Q4 minus Q1.
c. Q2 minus Q1.
d. Q4 minus Q3.
c. Q2 minus Q1.
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Environmental pollution is accounted for in ________.
A. DI B. GDP C. PI D. None of these
The above figure shows Jane's budget line and two of her indifference curves. How many steak dinners will Jane purchase each month?
A) 4 steak dinners B) 6 steak dinners C) 8 steak dinners D) 10 steak dinners
Consequences of the European Monetary Union include ________
A) a global financial crisis in 2007-2008 B) tightening of capital controls in several economies C) convergence of unemployment rates across the member economies D) consistent monetary policy across the member economies
Many tax-funded programs are intended to:
A. decrease surplus. B. increase income inequality. C. provide basic human needs. D. fail due to underfunding.