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:

Gestalt Principle

A theory that proposes objects are viewed in their entirety before being broken down into individual components.

Dots

Small, round marks used in a variety of contexts, including visual presentations, data visualization, and written material for punctuation purposes.

Closure

The psychological phenomenon where an individual seeks a sense of completeness or resolution to an emotional or traumatic event.

Similarity

The cognitive process of recognizing objects or ideas that are alike in appearance or concept.