Suppose that British Steel, Ltd., sells steel in Britain at $600 per ton and the same steel in the United States at $450 per ton. The price of equivalent steel produced in the United States is $550 per ton. How large an antidumping tariff (in percentage) will be applied on imports from British Steel if it is found that it dumped steel on the U.S. market?
a. 9.11%
b. 22.22%
c. 25%
d. 33.33%
Answer: b. 22.22%
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Indicate whether the statement is true or false
The supply curve for bonds has the usual upward slope, indicating that as the price ________, ceteris paribus, the ________ increases
A) falls; supply B) falls; quantity supplied C) rises; supply D) rises; quantity supplied
Figure 17-10 Refer to . A result of the tariff is that, relative to the free-trade situation, the quantity of saddles imported decreases by
a. Q2 - Q1.
b. Q3 - Q2.
c. Q4 - Q3.
d. Q4 - Q3 + Q2 - Q1.
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A. absolute change in quantity demanded divided by absolute change in price. B. percentage change in quantity demanded divided by percentage change in price. C. percentage change in price divided by percentage change in income. D. percentage change in price divided by percentage change in quantity demanded.