As a 7- Year- Old Child, You Helped Your Father

question 51

Multiple Choice

As a 7- year- old child, you helped your father nail a birdhouse 7 feet high on a 10- foot- tall maple tree. If the tree grew an average of 12 inches per year, except during a dry year when it grew only 2 inches, how high in the tree is the birdhouse when you are 18 years old?

• A) 17 feet, 2 inches
• B) 10 feet
• C) 7 feet
• D) 17 feet
• E) 19 feet

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Definitions:

Import Tariff

A tax imposed by a government on goods and services imported from other countries, often to protect domestic industries.

Market Outcome

The result of all the buying and selling activities on the market prices, quantities sold, and quantities produced of goods and services.

Domestic Price

The price at which goods and services are sold within a country's borders, as opposed to international or export prices.

Subsidy

A benefit given by the government to groups or individuals, usually in the form of a cash payment or tax reduction, to remove some type of burden and is considered to be in the interest of the public.