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Author Question: Which of the following statements concerning tariffs is NOT true? A) A tariff results in a ... (Read 81 times)

rlane42

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on: Jun 29, 2018
Which of the following statements concerning tariffs is NOT true?
 
  A) A tariff results in a deadweight loss.
  B) A tariff creates revenue for the government.
  C) A tariff decreases international trade.
  D) A tariff leaves the price of imports unchanged.

Question 2

Producers' total revenue will decrease if
 
  A) income increases and the good is a normal good.
  B) the price rises and demand is elastic.
  C) the price rises and demand is inelastic.
  D) income falls and the good is an inferior good.


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juicepod

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

B


rlane42

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

peter

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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