Spain Is an Importer of Computer Chips,taking the World Price

question 252

Multiple Choice

Spain is an importer of computer chips,taking the world price of $12 per chip as given.Suppose Spain imposes a $5 tariff on chips.As a result,

• A)Spanish consumers of chips and Spanish producers of chips both gain.
• B)Spanish consumers of chips gain and Spanish producers of chips lose.
• C)Spanish consumers of chips lose and Spanish producers of chips gain.
• D)Spanish consumers of chips and Spanish producers of chips both lose.

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Definitions:

Impulses

Sudden, involuntary urges to act or react in a certain way, often driven by internal desires or needs.

Power

The ability or capacity to influence or control the behavior of others, or the course of events.

Prestige

The respect and admiration that an individual or organization gains based on achievements, quality, or position.

California Q-Set

An assessment tool used in psychology to measure personality traits, attitudes, and behaviors through the ranking of descriptive items.