Refer to the Following Graph

question 59

Multiple Choice

Refer to the following graph. If this graph represents the supply of and demand for an imported product, a tariff of t will result in revenue for the government shown by area:

• A)ACIJ.
• B)BDGH.
• C)BOEH.
• D)DOEG.

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Definitions:

Empiricism

The view that knowledge should be based on experience and observation, on empirical as opposed to theoretical knowledge.

Positivism

A philosophical theory that asserts that genuine knowledge is based on natural phenomena and their properties and relations as verified by empirical sciences.

Rationalism

A philosophy that emphasizes reason and knowledge acquisition through deductive reasoning and logical analysis, rather than empirical evidence.

Factual Analysis

Examination of data to discover verifiable facts and establish their validity.