Microeconomics Trade and Tariff Quiz

Microeconomics Trade and Tariff Quiz

Assessment

Interactive Video

Business

11th - 12th Grade

Hard

Created by

Nancy Jackson

FREE Resource

5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the quantity of sugar that the country will import when the world price is $2?

16 units

14 units

12 units

2 units

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does a tariff affect the world price and domestic output?

It decreases the world price and increases domestic output.

It increases the world price and decreases domestic output.

It increases the world price and increases domestic output.

It decreases the world price and decreases domestic output.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the formula used to calculate consumer surplus in this context?

1/2 base times height

Base times height

Base plus height

1/2 base plus height

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How much is the tariff per unit if the world price increases from $2 to $4?

$4

$3

$2

$1

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What should the government do to maximize total surplus?

Impose a $2 tariff

Impose a $4 tariff

Impose no tariff

Impose a $1 tariff