Suppose the domestic market demand function in a certain market where Q is measured in thousands of units is Qd = 20 - 2.5P, and the domestic market supply function is Qs = 2.5P - 7.5. Suppose further that the world price for the good in question is $3.40 per unit. If the government places a $1.20 tariff on imported units of this good, how much revenue does the tariff generate?
A. $3,200
B. $3,600
C. $5,400
D. $3,000
C. $5,400
Economics
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Suppose you withdraw $1,000 from your savings account and put it in your checking account. Briefly explain how this will affect M1 and M2
What will be an ideal response?
Economics
The Bureau of Labor Statistics unveils an unemployment rate figure every
A) two weeks. B) month. C) two months. D) quarter.
Economics