Author Question: Which of the following is true of a tariff? a. It is a tax levied by the government on domestic ... (Read 96 times)

JMatthes

  • Hero Member
  • *****
  • Posts: 578
Which of the following is true of a tariff?
 a. It is a tax levied by the government on domestic production of goods and services.
  b. It is a quantitative restriction on imports imposed by the government.
  c. It is a monetary benefit received by exporters from the government.
  d. It is a monetary benefit received by importers from the government.
  e. It is a tax on import and export levied by the government.

Question 2

When markets reach the ____ price all the opportunities for mutually beneficial trade have taken place and the sum of consumer and producer surplus is ____.
 a. minimum, maximized
 b. maximum, minimized
 c. equilibrium, maximized
 d. equilibrium, shared equally between consumers and producers



nathang24

  • Sr. Member
  • ****
  • Posts: 314
Answer to Question 1

e

Answer to Question 2

c



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

Walt Disney helped combat malaria by making an animated film in 1943 called The Winged Scourge. This short film starred the seven dwarfs and taught children that mosquitos transmit malaria, which is a very bad disease. It advocated the killing of mosquitos to stop the disease.

Did you know?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

For a complete list of videos, visit our video library