A tariff on a product ( )
A: enhances the economic well-being of the domestic economy.
B: increases the domestic quantity supplied.
C: increases the domestic quantity demanded.
D: results in an increase in producer surplus that is greater than the
resulting decrease in consumer surplus.
A: enhances the economic well-being of the domestic economy.
B: increases the domestic quantity supplied.
C: increases the domestic quantity demanded.
D: results in an increase in producer surplus that is greater than the
resulting decrease in consumer surplus.
举一反三
- A tariff is imposed on a good. This will ________ the domestic producer surplus, ________ the domestic consumer surplus, and ________ total surplus in the home country. A: increase; decrease; decrease B: increase; decrease; increase C: increase; remain unchanged; increase D: increase; increase; increase
- If a small country imposes a tariff on imported motorcycles ( ) A: the surplus of the domestic producers of motorcycles will decline, but the surplus of the domestic consumers will increase. B: the surplus of both the domestic producers and consumers of motorcycles will decline. C: the surplus of both the domestic producers and consumers of motorcycles will increase. D: the surplus of the domestic producers of motorcycles will increase, but the surplus of the domestic consumers will decline.
- If the market price of a good is below the equilibrium price ______ A: quantity demanded Hill exceed quantity supplied, resulting in a shortage. B: quantity demanded Hill exceed quantity supplied, resulting in a surplus. C: quantity supplied will exceed quantity demanded, resulting in a shortage. D: quantity supplied will exceed quantity demanded, resulting in a surplus. E: the supply curve will shift to the left and the demand curve will shift to the right.
- If the price of oak lumber increases, what happens to consumer<br/>surplus in the market for oak cabinets? () A: Consumer<br/>surplus increases. B: Consumer<br/>surplus decreases. C: Consumer<br/>surplus will not change consumer surplus; only producer surplus<br/>changes. D: Consumer<br/>surplus depends on what event led to the increase in the price of oak<br/>lumber.
- An increase in the demand of the imported commodity subject to a given import quota will reduces the domestic quantity demanded of the commodity.