Refer to the Information Provided in Figure 20

question 140

Multiple Choice

Refer to the information provided in Figure 20.5 below to answer the question(s) that follow. Figure 20.5
-Refer to Figure 20.5. The domestic price of oil is $130 per barrel, and the world price of oil is $120 per barrel. If the domestic government imposes a tariff of $________ per barrel, it will eliminate all oil imports and achieve tariff revenues of $________.

• A) 10; zero
• B) 5; 20 million
• C) 5; 45 million
• D) 10; 120 million

---

Definitions:

Fluid Intelligence

Intellectual ability that reflects basic information processing skills, including working memory, processing speed, and the ability to detect relations among stimuli and draw inferences; underlies learning, is not influenced by culture, and reflects brain functioning.

Pragmatic Intelligence

The ability to solve real-world problems by adapting to, shaping, or selecting environments.

Crystallized Intelligence

The ability to use skills, knowledge, and experience gained over time, often improving as one gets older.

Fluid Intelligence

The ability to think abstractly, reason quickly, and solve problems in novel situations, independent of acquired knowledge.