Refer to Figure 9-5. If the tariff was replaced by a quota which limited coffee imports to 20 million pounds, the amount of revenue received by coffee importers would equal
A) $5 million. B) $15 million. C) $50 million. D) $78 million.
C
Economics
You might also like to view...
If the CPI changes from 125 to 120 between 2015 and 2016, how did prices change between 2015 and 2016?
A) Prices increased by 25%. B) Prices decreased by 5% C) Prices decreased by 4%. D) Prices increased by 5%.
Economics
Suppose the only leakages are savings and taxes. The tax rate is 0.2 and the multiplier is 1.92. These values imply that the marginal propensity to consume is
A) 0.32. B) 0.60. C) 0.68. D) 0.8.
Economics