Use the Following to Answer Questions

question 145

Multiple Choice

Use the following to answer questions:
Figure: International Trade 3
-(Figure: International Trade 3) Refer to the figure. If the government in this diagram eliminates all imports with a tariff, the value of the wasted resources will be:

• A) $4.50.
• B) $81.
• C) $27.
• D) $36.

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Definitions:

U.S. Jobs

Employment opportunities available in the United States, encompassing various sectors, industries, and roles.

Imports

Items or offerings that enter into a nation from abroad aimed at being sold or employed.

Domestic Supply and Demand

Refers to the quantity of a product or service available and the desire for it within a single country.

Tariff Revenue

Income that a government earns from the imposition of import and export duties.