Refer to the information provided in Figure 33.4 below to answer ...

[Charlie]

Question 1

Refer to the information provided in Figure 33.4 below to answer the question(s) that follow.





Refer to Figure 33.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. If there is free trade, this country will import ________ leather wallets.

◦ 50
◦ 100
◦ 200
◦ 300

Question 2

Refer to the information provided in Figure 33.4 below to answer the question(s) that follow.





Refer to Figure 33.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. After the tariff is imposed, this country will import ________ leather wallets.

◦ 50
◦ 100
◦ 150
◦ 200

[gstein359]

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[kellyjaisingh]

Question 1

Refer to the information provided in Figure 33.4 below to answer the question(s) that follow.





Refer to Figure 33.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. After the tariff is imposed, tariff revenue in this country will be

◦ $50.
◦ $250.
◦ $500.
◦ $750.

Question 2

Refer to the information provided in Figure 33.4 below to answer the question(s) that follow.





Refer to Figure 33.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. After the tariff is imposed

◦ domestic production and consumption will increase by 50 wallets and domestic consumption will increase by 50 wallets.
◦ domestic production will increase by 150 wallets and domestic consumption will decrease by 250 wallets.
◦ domestic production will increase by 100 wallets and domestic consumption will decrease by 100 wallets.
◦ domestic production will increase by 50 wallets and domestic consumption will decrease by 50 wallets.

[karlss]

Answer 1

$500.

Answer 2

domestic production will increase by 50 wallets and domestic consumption will decrease by 50 wallets.

[kellyjaisingh]

Thank you!

[karlss]

Always glad to help...

[Capo]

Question 1

Refer to the information provided in Figure 33.4 below to answer the question(s) that follow.





Refer to Figure 33.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. If the tariff is raised so that it now equals $10, tariff revenue in this country will be

◦ $0.
◦ $1,000.
◦ $2,000.
◦ $3,000.

Question 2

Refer to the information provided in Figure 33.4 below to answer the question(s) that follow.





Refer to Figure 33.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. With free trade domestic production is

◦ 0.
◦ 100.
◦ 150.
◦ 300.

[janieazgirl]

Answer 1

$0.

Answer 2

100.

[haleyc112]

Question 1

Refer to the information provided in Figure 33.4 below to answer the question(s) that follow.





Refer to Figure 33.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. With the tariff domestic production is

◦ 100.
◦ 150.
◦ 200.
◦ 300.

Question 2

Refer to the information provided in Figure 33.4 below to answer the question(s) that follow.





Refer to Figure 33.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. If there is free trade, this country will ________ 200 leather wallets.

◦ buy
◦ sell
◦ import
◦ export

[frogdreck123456]

Answer 1

150.

Answer 2

import