-Refer to the Diagram Above

question 133

Multiple Choice

-Refer to the diagram above.If this country opens up to international trade in shoes at the world price,then the price is ____________________ per pair,the quantity consumed domestically is ____________________ pairs per year,and total economic surplus is ____________________ per year.

• A) $20;1500;$20,000
• B) $20;1000;$20,000
• C) $30;500;$25,000
• D) $30;1500;$25,000
• E) $40;500;$25,000

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Definitions:

Kyoto Protocol

An international agreement linked to the United Nations Framework Convention on Climate Change that commits its parties to reduce greenhouse gas emissions, based on the scientific consensus that global warming is occurring and that human-made CO2 emissions are significant contributors.

Ratified

Formally approved or confirmed, often referring to the process by which legislation or constitutional amendments become valid.

Clean Air Act

A United States federal law designed to control air pollution on a national level, aiming to protect and improve the nation's air quality and the stratospheric ozone layer.

Stationary Sources

Stationary sources are fixed sites or facilities that emit pollutants into the environment, such as factories, power plants, and refineries.