10. The Home market shown in the figure has imposed a _____ tariff. A) $3 B) $16
ID: 1094472 • Letter: 1
Question
10.
The Home market shown in the figure has imposed a _____ tariff.
A)
$3
B)
$16
C)
$6
D)
$22
11.
What is the deadweight loss because of the tariff?
A)
$24
B)
$12
C)
$48
D)
$44
17.
The large country imposes a tariff of:
A)
$10.
B)
$20.
C)
$25.
D)
$15.
18.
The net welfare loss for the home country because of the tariff is:
A)
$50.
B)
$25.
C)
$0.
D)
$100.
Use the following to answer question 19:
Table: Export Supply Elasticities
This table gives the foreign elasticity of supply for several types of U.S. steel imports.
Export Supply
Elasticity
Alloy Steel
0.27
Steel bars and rods
0.80
Steel tubes and pipes
90
Steel flat-rolled products
750
19.
According to the table, for which product is the U.S. optimal tariff the largest?
A)
alloy steel
B)
steel bars and rods
C)
steel tubes and pipes
D)
steel flat-rolled products
20.
A quota generates a protective effect just like a tariff. Using the graph, calculate the
10.
The Home market shown in the figure has imposed a _____ tariff.
A)
$3
B)
$16
C)
$6
D)
$22
10. The Home market shown in the figure has imposed a _____ tariff. A) $3 B) $16 C) $6 D) $22 11. What is the deadweight loss because of the tariff? A) $24 B) $12 C) $48 D) $44 17. The large country imposes a tariff of: A) $10. B) $20. C) $25. D) $15. 18. The net welfare loss for the home country because of the tariff is: A) $50. B) $25. C) $0. D) $100. Use the following to answer question 19: Table: Export Supply Elasticities This table gives the foreign elasticity of supply for several types of U.S. steel imports. Export Supply Elasticity Alloy Steel 0.27 Steel bars and rods 0.80 Steel tubes and pipes 90 Steel flat-rolled products 750 19. According to the table, for which product is the U.S. optimal tariff the largest? A) alloy steel B) steel bars and rods C) steel tubes and pipes D) steel flat-rolled products 20. A quota generates a protective effect just like a tariff. Using the graph, calculate the ?equivalent import tariff? that would produce the same result as an import quota of 200 units. A) $1 B) $2 C) $3 D) $4Explanation / Answer
10) $6
11) 24
17) $10
18) 50
19) alloy steel
20) $2
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