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aac387 aac387
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6 years ago
Based on Figure 6.1, how much revenue will the government raise from a 0.25 per bushel tariff on soybean imports?
 
  A) The government will raise 2.5 million.
  B) The government will raise 5 million.
  C) The government will raise 15 million.
  D) The government will raise 32.5 million.
  E) The government will see no increase in income; because the country is small, foreign firms will simply not serve it after the tariff is imposed.


Question 2 - Studies of the high growth Asian economies confirm the importance of savings and investment in increasing economic growth.
 
  Indicate whether the statement is true or false


Question 3 - Based on Figure 6.1, given a tariff of 0.25 per bushel on soybean imports, how much will domestic production increase?
 
  A) Domestic firms will increase output by 10 million bushels.
  B) Domestic firms will increase output by 20 million bushels.
  C) Domestic firms will increase output by 70 million bushels.
  D) Domestic firms' production will not be changed by the tariff.
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peytonjlpeytonjl
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6 years ago
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aac387 Author
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#2
6 years ago
tremendous help
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