Figure 81 Depicts the Supply and Demand Schedules of Calculators for for Greece

question 44

Multiple Choice

Figure 8.1 depicts the supply and demand schedules of calculators for Greece, a "small" country that is unable to affect the world price. Greece's supply and demand schedules of calculators are respectively depicted by SG and DG. Assume that Greece imports calculators from either Germany or France. Suppose Germany is the world's low-cost producer who can supply calculators to Greece at $20 per unit, while France can supply calculators at $30 per unit.

Figure 8.1. Effects of a Customs Union

-Consider Figure 8.1.Assume Greece levies a per-unit tariff of $20 on imports from both Germany and France. As a result of the $20 tariff, Greece's consumer surplus falls by

• A) $90.
• B) $100.
• C) $110.
• D) $120.

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Definitions:

Grandiose

Characterized by exaggerated beliefs of one's importance, superiority, or talents.

Communal Goals

Objectives or aims shared by a community or group that typically focus on mutual benefits and support among members.

Empathy

The ability to understand and share the feelings of another individual, fostering a sense of compassion and connection.

Narcissistic

Describes a personality trait characterized by excessive self-love, a need for admiration, and a lack of empathy for others.