SCENARIO: SUGAR TRADE IN BIRDONIA

question 32

Multiple Choice

SCENARIO: SUGAR TRADE IN BIRDONIA
In autarky, suppose that equilibrium sugar price is $100 per
Ton in Birdonia, a small agricultural nation.Now, suppose
Birdonia engages in free trade with the rest of the world.
The world price of sugar is $125 per ton.
Reference: Ref 10­1
(Scenario: Sugar Trade in Birdonia) What action must the
Government of Birdonia take to ensure that Birdonians do
Not import sugar at the world price of $125?

• A)It must place a $25 per ton tax on Birdonian sugar exports.
• B)It must levy a countervailing duty of $50 a ton on Birdonian sugar exports.
• C)It must agree to voluntarily restrain its exports to $125 per ton.
• D)It must levy a tariff of $50 per ton on imported sugar.

Comprehend the influence of environmental and genetic factors on IQ scores and academic achievement.

Recognize the significance of the Flynn effect and how IQ scores have changed over time.

Identify the stages and characteristics of the creative problem-solving process.

Distinguish between divergent and convergent thinking and their applications in problem-solving.

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Definitions:

Bicameralism

A legislative system in which the legislature comprises two separate chambers or houses, often with differing powers and functions, such as the Senate and House of Representatives in the United States.

Congress

The legislative branch of the United States government, made up of the Senate and the House of Representatives, responsible for making federal laws.

Cameralism

An economic theory and administrative practice that emerged in Europe, primarily in German states during the 17th and 18th centuries, focusing on state intervention and management of the economy for the monarchy's welfare.

American Republic

A form of government in the United States characterized by a system of democracy with elected representatives, a president, and a separation of powers.