Author Question: Refer to Figure 9-2. Without the tariff in place, the United States produces A) 9 million pounds ... (Read 124 times)

maychende · **on:** Jun 29, 2018

Refer to Figure 9-2. Without the tariff in place, the United States produces

A) 9 million pounds of rice. B) 15 million pounds of rice.
C) 31 million pounds of rice. D) 42 million pounds of rice.

Question 2

In Singapore the government places a 5,000 tax on the buyers of new automobiles. After the purchase of a new car, a buyer must pay the government 5,000. How would the imposition of the tax on buyers be illustrated in a graph?

A) The tax will shift the demand curve to the left by 5,000.
B) The tax will shift the supply curve to the left by 5,000.
C) The tax will shift both the demand and supply curves to the right by 5,000.
D) The tax will shift the demand curve to the right by 5,000.