Question :
151.Whenacountrythatimportsaparticulargoodimposesanimportquotaonthatgood,
a.consumersurplusincreasesandtotalsurplusincreasesinthemarketforthatgood.
b.consumersurplusincreasesandtotalsurplu : 1262612
151.Whenacountrythatimportsaparticulargoodimposesanimportquotaonthatgood,
a.consumersurplusincreasesandtotalsurplusincreasesinthemarketforthatgood.
b.consumersurplusincreasesandtotalsurplusdecreasesinthemarketforthatgood.
c.consumersurplusdecreasesandtotalsurplusincreasesinthemarketforthatgood.
d.consumersurplusdecreasesandtotalsurplusdecreasesinthemarketforthatgood.
152.Whenacountrythatimportsaparticulargoodimposesanimportquotaonthatgood,
a.producersurplusincreasesandtotalsurplusincreasesinthemarketforthatgood.
b.producersurplusincreasesandtotalsurplusdecreasesinthemarketforthatgood.
c.producersurplusdecreasesandtotalsurplusincreasesinthemarketforthatgood.
d.producersurplusdecreasesandtotalsurplusdecreasesinthemarketforthatgood.
153.Atariffisataxplacedon
a.anexportedgoodanditlowersthedomesticpriceofthegoodbelowtheworldprice.
b.anexportedgoodanditensuresthatthedomesticpriceofthegoodstaysthesameastheworldprice.
c.animportedgoodanditlowersthedomesticpriceofthegoodbelowtheworldprice.
d.animportedgoodanditraisesthedomesticpriceofthegoodabovetheworldprice.
154.Atariff
a.lowersthedomesticpriceoftheexportedgoodbelowtheworldprice.
b.keepsthedomesticpriceoftheexportedgoodthesameastheworldprice.
c.raisesthedomesticpriceoftheimportedgoodabovetheworldprice.
d.lowersthedomesticpriceoftheimportedgoodbelowtheworldprice.
155.Whenacountrymovesawayfromafreetradepositionandimposesatariffonimports,itcauses
a.adecreaseintotalsurplusinthemarket.
b.adecreaseinproducersurplusinthemarket.
c.anincreaseinconsumersurplusinthemarket.
d.adecreaseinrevenuetothegovernment.
156.Ifthedemandcurveandthesupplycurveforagoodarestraightlines,thenthedeadweightlossthatresultsfromatariffisrepresentedonthesupply-and-demandgraphby
a.theareaofonetriangle.
b.theareaofonerectangle.
c.thecombinedareasoftwodifferenttriangles.
d.thecombinedareasoftwodifferentrectangles.
157.SupposeIranimposesatariffonlumber.Forthetarifftohaveanyeffect,itmustbethecasethat
a.Iranisanexporteroflumber.
b.thedomesticquantityoflumbersuppliedexceedsthedomesticquantityoflumberdemandedattheworldpricewithoutthetariff.
c.theworldpricewithoutthetariffislessthanthepriceoflumberwithouttrade.
d.theworldpricewithoutthetariffisgreaterthanthepriceoflumberwithouttrade.
158.Spainisanimporterofcomputerchips,takingtheworldpriceof$12perchipasgiven.SupposeSpainimposesa$5tariffonchips.Asaresult,
a.SpanishconsumersofchipsandSpanishproducersofchipsbothgain.
b.SpanishconsumersofchipsgainandSpanishproducersofchipslose.
c.SpanishconsumersofchipsloseandSpanishproducersofchipsgain.
d.SpanishconsumersofchipsandSpanishproducersofchipsbothlose.
159.Denmarkisanimporterofcomputerchips,takingtheworldpriceof$12perchipasgiven.SupposeDenmarkimposesa$5tariffonchips.Whichofthefollowingoutcomesispossible?
a.MoreDanish-producedchipsaresoldinDenmark.
b.Moreforeign-producedchipsaresoldinDenmark.
c.Danishconsumersofchipsbecomebetteroff.
d.TotalsurplusintheDanishchipmarketincreases.
160.Chileisanimporterofcomputerchips,takingtheworldpriceof$12perchipasgiven.SupposeChileimposesa$7tariffonchips.Whichofthefollowingoutcomesispossible?
a.ThepriceofchipsinChileincreasesto$19;thequantityofChilean-producedchipsdecreases;andthequantityofchipsimportedbyChiledecreases.
b.ThepriceofchipsinChileincreasesto$16;thequantityofChilean-producedchipsincreases;andthequantityofchipsimportedbyChiledecreases.
c.ThepriceofchipsinChileincreasesto$19;thequantityofChilean-producedchipsincreases;andthequantityofchipsimportedbyChiledecreases.
d.ThepriceofchipsinChileincreasesto$16;thequantityofChilean-producedchipsincreases;andthequantityofchipsimportedbyChiledoesnotchange.