The figure below illustrates a tariff. On the graph, Q represents quantity and P represents price.
Figure 17-11
Refer to Figure 17-11. Government revenue raised by the tariff is represented by the area
a.
E.
b.
B + E.
c.
D + E + F.
d.
B + D + E + F.
a
Economics
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Autonomous consumption is the level of consumption that is
A) consistent with the average standard of living. B) observed at the poverty line. C) independent of real income. D) available to someone earning the minimum wage.
Economics
Exhibit 6A-6 Consumer equilibrium
?
As shown in Exhibit 6A-6, movement from consumer equilibrium at point Y to point X is caused by a(n):
A. increase in the price of good X. B. decrease in the price of good X. C. increase in the price of good Y. D. decrease in the price of good Y.
Economics