To Measure the Impact of a Tariff on the Total

question 105

Multiple Choice

To measure the impact of a tariff on the total welfare of society, we calculate the:

• A) rise in consumer surplus plus the rise in producer surplus.
• B) rise in producer surplus plus the increase in tariff revenue going to the government minus the loss of consumer surplus.
• C) rise in government revenues plus the rise in consumer surplus.
• D) total number of jobs saved by the tariff times the average wage.

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Definitions:

Specificity of Training

A principle stating that to become better at a particular activity, one must perform that activity as the primary form of training.

Weight Training

A form of physical activity focused on improving strength and endurance by lifting weights.

Cardiorespiratory Endurance

The ability of the heart and lungs to supply oxygen-rich blood to working muscle tissues and the ability of those muscles to use oxygen to produce energy for movement.

Bicycling

A form of exercise or transportation involving the use of a bicycle, which can improve cardiovascular health and increase muscle strength.