WGU C211 Global Economics Questions and Correct Answers & Latest Updated
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Course
WGU C211
Institution
WGU C211
Suppose that the United States imposes a
tariff on avocados imported from Mexico.
What impact will this have on the price paid
for avocados by United States citizens?
o :## The price will increase.
Which of the following is a consequence of a
country imposing a tariff on imported goods?
o :#...
WGU C211 Global Economics Questions and
Correct Answers & Latest Updated
Suppose that the United States imposes a
tariff on avocados imported from Mexico.
What impact will this have on the price paid
for avocados by United States citizens?
o :## The price will increase.
Which of the following is a consequence of a
country imposing a tariff on imported goods?
o :## The demand for foreign produced goods
decreases.
Suppose that the United States imposes a
tariff on salt. What impact might this tariff
have on the price for domestic consumers?
o :## Consumers will pay a higher price.
Applying a tariff to coconuts will have the
following effect:
o :## Increase the domestic price of
coconuts.
Master01: DO NOT COPY AND PASTE!! August 25, 2024 Latest Update
, 2|Page: 2024/2025 Grade A+
Which of the following is NOT a restriction to
trade?
o :## Free trade areas.
What is the significant difference between an
import quota and a tariff?
o :## A tariff raises revenue for the
government and an import quota creates surplus for
those who obtain licenses to import.
Suppose that the price of a good increases (all
else held constant). Which of the following
would happen along with the change in price?
o :## Consumer surplus would decrease.
Suppose that Bob goes to the market and is
willing to pay $500 for a new chainsaw. Bob is
able to find the chainsaw for only $400. Which
of the following follows from Bob's
circumstance?
Master01: DO NOT COPY AND PASTE!! August 25, 2024 Latest Update
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