When a 10 percent tariff is imposed on commodity X,there is a(n)____________ in consumer surplus and a(n)_________ in producer surplus.
A)decrease,increase
B)increase,decrease
C)decrease,decrease
D)increase,increase
Correct Answer:
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Q22: _ represents payment that is made above
Q23: In a large nation,who bears the burden
Q24: A tariff redistributes income in a small
Q25: The consumption component of the deadweight loss
Q26: The more _ the demand or supply
Q28: A defining characteristic of a "large nation"
Q29: The effects attributed to the decline in
Q30: Graphically,how is the consumer surplus measured?
A)the area
Q31: The imposition of tariffs on imports results
Q32: The production component of the deadweight loss
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