Table 10-2 -Refer to Table 10-2.Using the Table Above,what Is the Approximate

question 113

Multiple Choice

Table 10-2

-Refer to Table 10-2.Using the table above,what is the approximate growth rate of real GDP from 2017 to 2018?

• A)-2%
• B)-1%
• C)1%
• D)2%

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Definitions:

Tariff

A tax imposed on imported goods and services to increase their price and reduce competition with domestic products.

Exported

Products or services that are transported from one nation to another for the purpose of being sold or traded.

Producer Surplus

The difference between the amount producers are willing to sell a good for and the actual amount received from the sale of that good.