Suppose Ecuador Imposes a Tariff on Imported Bananas

question 197

True/False

Suppose Ecuador imposes a tariff on imported bananas. If the increase in producer surplus is $50 million, the reduction in consumer surplus is $150 million, and the deadweight loss of the tariff is $30 million, then the tariff generates $130 million in revenue for the government.

---

Definitions:

Culture

The social behavior, norms, knowledge, beliefs, arts, laws, customs, capabilities, and habits of the members of a society.

Bilingual

The ability to speak and understand two languages fluently.

White Matter

The part of the brain and spinal cord made up of myelinated nerve fibers, which are responsible for transmitting signals within the nervous system.

Hemisphere Damage

Refers to injury or dysfunction in one half of the brain, affecting cognitive, physical, or emotional functions depending on the area damaged.