To Measure the Impact of a Tariff on the Total

question 22

Multiple Choice

To measure the impact of a tariff on the total welfare of society, we
Calculate the:

• A)rise in consumer surplus plus the rise in producer surplus.
• B)rise in producer surplus plus the increase in tariff revenue going to the government minus the loss of consumer surplus.
• C)rise in government revenues plus the rise in consumer surplus.
• D)total number of jobs saved by the tariff times the average wage.

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Cultural Competency Skills

The ability to interact effectively with people of various cultural backgrounds, understanding and respecting differences to ensure effective communication and engagement.

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