Refer to the Graph Shown for a Small Country That

question 59

Multiple Choice

Refer to the graph shown for a small country that is a price taker internationally. Assume the foreign supply of this product is perfectly elastic at a price of $4 per unit. If government imposes a tariff in the amount of $2 per unit, it will collect revenue in the amount of:

• A) $0.
• B) $2,400.
• C) $5,000.
• D) $10,000.

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Definitions:

Karen Horney

A German psychoanalyst known for her work in the psychology of women and for founding the theory of neurosis based on social and cultural factors, rather than simply biological ones.

Raised Without Love

Refers to the developmental consequences and psychological impacts of growing up in an environment lacking emotional warmth, affection, or parental love.

Psychosexual Stages

Freud's theory of five developmental stages (oral, anal, phallic, latency, and genital) that children pass through, each characterized by sexual pleasure in parts of the body.

Last Stage

This can refer to the final phase in a process or sequence, such as the last stage of a life cycle, or the concluding part of a theatrical production.