Refer to the Information Provided in Figure 33

question 109

Multiple Choice

Refer to the information provided in Figure 33.4 below to answer the question(s) that follow. Figure 33.4
-Refer to Figure 33.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. After the tariff is imposed, ________ revenue in this country will be $500.

• A) export
• B) import
• C) tariff
• D) total

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Definitions:

One-Child Policy

A population control policy formerly implemented by China, wherein families were restricted to having only one child to curb population growth.

Industrialized Agriculture

A form of modern farming that involves large-scale operations, heavy machinery, and the extensive use of chemicals and technology to increase productivity.

Eutrophication

The process by which a body of water becomes enriched in nutrients, leading to plant growth and depletion of oxygen.