Refer to the information provided in Figure 33.5 below to answer ...

[chandani]

Question 1

Refer to the information provided in Figure 33.5 below to answer the question(s) that follow.








Refer to Figure 33.5. The domestic price of oil is $130 per barrel. If the world price of oil is $135 per barrel, this country will

◦ import 23 million barrels.
◦ import 9 million barrels.
◦ export 5 million barrels.
◦ export 14 million barrels.

Question 2

Refer to the information provided in Figure 33.5 below to answer the question(s) that follow.








Refer to Figure 33.5. The domestic price of oil is $130 per barrel. This country imports 14 million barrels if the world price of oil is $________.

◦ 120
◦ 125
◦ 135
◦ 140

[Swizqar]

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Only 49% of students answer this correctly

[chandani]

Excellent

[Swizqar]

Great! Please up vote

[sarasara]

Question 1

Refer to the information provided in Figure 33.5 below to answer the question(s) that follow.








Refer to Figure 33.5. The domestic price of oil is $130 per barrel, and the world price of oil is $120 per barrel. If the domestic government imposes a tariff of $________ per barrel, it will eliminate all oil imports and achieve tariff revenues of $________.

◦ 10; zero
◦ 5; 20 million
◦ 5; 45 million
◦ 10; 120 million

Question 2

Refer to the information provided in Figure 33.5 below to answer the question(s) that follow.








Refer to Figure 33.5. The domestic price of oil is $130 per barrel. If the world price of oil is $120 per barrel, this country will

◦ import 19 million barrels.
◦ import 14 million barrels.
◦ export 5 million barrels.
◦ export 19 million barrels.

[pratush dev]

Answer 1

10; zero

Answer 2

import 14 million barrels.

[Shelles]

Question 1

Refer to the information provided in Figure 33.5 below to answer the question(s) that follow.








Refer to Figure 33.5. The domestic price of oil is $130 per barrel. This country imports 5 million barrels if the world price of oil is

◦ $120.
◦ $125.
◦ $135.
◦ $140.

Question 2

Refer to the information provided in Figure 33.5 below to answer the question(s) that follow.








Refer to Figure 33.5. The domestic price of oil is $130 per barrel, and the world price of oil is $120 per barrel. If the domestic government imposes a tariff of $10 per barrel, it will

◦ import zero barrels.
◦ import 5 million barrels.
◦ export 5 million barrels.
◦ export 7 million barrels.

[AISCAMPING]

Answer 1

$125.

Answer 2

import zero barrels.

[Shelles]

Excellent

[AISCAMPING]

Great! Please up vote