
Microeconomics Trade and Tariff Quiz
Interactive Video
•
Business
•
11th - 12th Grade
•
Hard
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
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