The figure shows the market for shirts in the United States, where D is the domestic demand curve and S is the domestic supply curve. The world price is $20 per shirt. The United States imposes a tariff on imported shirts of $4 per shirt.
-In the figure above, the U.S. government's revenue from the tariff is
A) $64 million.
B) $32 million.
C) $128 million.
D) $48 million.
Correct Answer:
Verified
Q72: The current U.S. average tariff rate
A) less
Q73: Which of the following best describes the
Q74: Of the following, in which decade were
Q75: The Smoot-Hawley Act was enacted in
A) 1980.
B)
Q76: An import quota specifies the
A) highest price
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