15. According to Figure 5.1, the tariff results in the Argentinian government collecting: a. $100 b. $120 c. $140 d. $160 16. According to Figure 5.1, Argentinian manufacturers gain __________ because of the tariff. a. $75 b. $85 c. $95 d. $105 17. According to Figure 5.1, the deadweight cost of the tariff totals: a. $60 b. $70 c. $80 d. $90 18. Consider Figure 5.1. The tariff would be prohibitive (i.e., eliminate imports) if it equaled at least: a. $2 b. $3 c. $4 d. $5 19. Imagine Argentina put a quota in place instead of a tariff. a. How many calculators be produced in Argentina? b. If Argentina limited calculator imports to 40 per year, what would the price be? c. Is this more or less than the number that would be produced domestically in the absence of a quota (i.e. with totally free trade)? 20. Imagine that there was no tariff and no quota, but there was a subsidy for domestic calculator producers in Argentina the government pays a $3 to Argentinian – firms for each calculator produced. How many more calculators do Argentinian firms make with the subsidy than they would produce without the subsidy? What is the change in price that consumers pay for calculators?
15. According to Figure 5.1, the tariff results in the Argentinian government collecting: a. $100 b. $120 c. $140 d. $160 16. According to Figure 5.1, Argentinian manufacturers gain __________ because of the tariff. a. $75 b. $85 c. $95 d. $105 17. According to Figure 5.1, the deadweight cost of the tariff totals: a. $60 b. $70 c. $80 d. $90 18. Consider Figure 5.1. The tariff would be prohibitive (i.e., eliminate imports) if it equaled at least: a. $2 b. $3 c. $4 d. $5 19. Imagine Argentina put a quota in place instead of a tariff. a. How many calculators be produced in Argentina? b. If Argentina limited calculator imports to 40 per year, what would the price be? c. Is this more or less than the number that would be produced domestically in the absence of a quota (i.e. with totally free trade)? 20. Imagine that there was no tariff and no quota, but there was a subsidy for domestic calculator producers in Argentina – the government pays a $3 to Argentinian firms for each calculator produced. How many more calculators do Argentinian firms make with the subsidy than they would produce without the subsidy? What is the change in price that consumers pay for calculators?