Exhibit 33-8

-Refer to Exhibit 33-8. Assume that the current price of sugar in the United States is $300 per ton (which includes a $100 per ton tariff on sugar imports). The removal of the $100 per ton tariff would cause a(n) __________ in imports of __________ million tons.

Question

Exhibit 33-8
​
 
-Refer to Exhibit 33-8. Assume that the current price of sugar in the United States is $300 per ton (which includes a $100 per ton tariff on sugar imports). The removal of the $100 per ton tariff would cause a(n) __________ in imports of __________ million tons.

Quizplus · Accepted Answer

The removal of the tariff would lower the price of sugar, making imports cheaper and more attractive, leading to an increase in imports. The question suggests that the increase would be 10 million tons.

Exhibit 33-8 ​

Exhibit 33-8