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Charlie has a utility function U(xA, xB) =xAxB, the price of apples is $1, and the price of bananas is $2.If Charlie's income were $320, how many units of bananas would he consume if he chose the bundle that maximized his utility subject to his budget constraint?
Exports
Sales of goods or services produced in one country purchased by residents of another country.
Imported Goods
Goods brought into a country from abroad for sale.
Excise Tax
A tax levied on specific goods, services, or transactions, usually to discourage their use or generate revenue.
Tariff
A levy enforced by the government on products and services that are brought in from foreign countries.
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