Policymakers in a small country impose a specific tariff of $2.00 per unit. Prior to the tariff, the country imported 10,000 units; after the tariff, 8,000 units. The amount of tariff revenue generated by the domestic government is:
A) 16000
B) 4000
C) 10000
D) There is no tariff revenue as this is a small country.
Correct Answer:
Verified
Q1: A tariff on imported goods results in
Q2: In a large country, a tariff on
Q4: Policymakers in a small country impose a
Q5: _ is when a firm charges foreign
Q6: The main difference between a tariff imposed
Q7: A tariff that blends together a specific
Q8: A policy designed to deal directly with
Q9: Export subsidies:
A) are a first-best policy approach
Q10: A policy action that benefits one nation-s
Q11: The economic costs of protecting a domestic
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