Australia Is an Importer of Computer Chips and Is Also

question 157

Multiple Choice

Australia is an importer of computer chips and is also a price taker in the chip market.The world price of these computer chips is $25.If Australia imposes a $5 tariff on chips,what would be the price of computer chips and what will happen to the quantity purchased

• A)$20 and the quantity purchased will increase
• B)$20 and the quantity purchased will fall
• C)$25 and the quantity purchased will increase
• D)$30 and the quantity purchased will fall

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Definitions:

Stereotyping

Involves making generalized beliefs or assumptions about the characteristics of all members of a group, based on simplified perceptions or experiences.

Multiculturalism

The presence and coexistence of diverse cultural groups in a society, celebrated for the enrichment it brings.

Global-Mindset

A global-mindset is the ability to appreciate and influence individuals, businesses, and cultures in a global context.

Global Mindset

The ability to appreciate and navigate diverse cultures, perspectives, and practices in global business environments.