Refer to the graph shown. With a tariff on lumber imported from Canada of $6 per ton, the revenue the government would collect from the import of lumber would be:
A. $3,600.
B. $4,800.
C. $4,200.
D. $0.
Answer: A
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Contractionary fiscal policies used to reduce the deficit in the 1990s did not hurt the economy because fiscal and monetary policies were well coordinated at that time
a. True b. False Indicate whether the statement is true or false
The type of currency in circulation in the modern U.S. economy is almost entirely
a. commodity money. b. metallic money. c. fiat money. d. silver certificates.
Total revenue divided by output = ___________.
Fill in the blank(s) with the appropriate word(s).
If net taxes fall by $80 billion, we would expect
A) the government deficit to fall by $80 billion. B) household saving to rise by $80 billion. C) household saving to rise by less than $80 billion. D) household saving to fall by more than $80 billion.