The Figure Given Below Depicts the Negatively Sloped Demand and Positively

question 60

Multiple Choice

The figure given below depicts the negatively sloped demand and positively sloped supply curves of wheat in a country. Figure 35.2 In Figure 35.2, if the world price of wheat is $35 and a $15 tariff is imposed:

• A)domestic consumption will decrease from 400 to 350 bushels of wheat.
• B)the government will collect $200 in revenue from the tariff.
• C)domestic consumption will increase from 150 to 200 bushels of wheat.
• D)imports will be eliminated.
• E)domestic consumption will increase from 150 to 300 bushels of wheat.

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Definitions:

Racial Socialization

Parents teach their children to negotiate race-related barriers and experiences in a racially stratified society and to take pride in their ancestry.

Race-Related Barriers

Obstructions or hindrances faced by individuals based on their race, affecting opportunities, and access in society.

Ancestry

The lineage or historical lineage of a person, traced back through several generations, often influencing their cultural identity.

Minority Groups

Groups in a society who, because of physical or cultural characteristics, are singled out from the others in the society for differential and unequal treatment.