Figure 9.8 -Refer to Figure 9.8. in Order to Eliminate International Trade

question 34

Multiple Choice

Figure 9.8
-Refer to Figure 9.8. In order to eliminate international trade in sugar altogether, this country would have to impose a quota of

• A) 0 tons.
• B) 200 tons.
• C) 300 tons.
• D) 350 tons.
• E) 500 tons.

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Definitions:

Trade Surplus

A situation in which a country's exports exceed its imports, leading to a positive balance of trade.

Export

Goods or services sold by a country to another country, contributing positively to the selling country's balance of trade.

C + I + G Curve

An economic model representing the total spending in an economy, comprising Consumption (C), Investment (I), and Government Expenditures (G).

Regressive Tax

A taxation mechanism where the tax rate effectively decreases as the taxable amount (income or assets) increases, placing a higher relative burden on lower earners.