To reduce imports, suppose that the government of Norway’s imposes a quota equal to 800 computers, Compared to what occurred under free trade, Norway’s consumers surplus will ________ and its producer surplus will _______ Can you calculate these amounts? Try plotting the information of this table on a sheet of graph paper ?

Related Mcqs:

In the absence of traded, Norway’s equilibrium price and quantity equal ?

A. $1,500 and 2,800 computers B. $2,000 and 1,600 computers C. $2,500 and 2,000 computers D. $3,500 and 2,000 computers...

During periods of growing domestic demand, an import quota ?

A. is less restrictive on a country’s imports than a tariff B. Is more restrictive on a country’s imports than a tariff C. has the same restrictive effect on a country’s imports as a tariff D. will always generate increased tax revenue for the government...

The firm would maximize profit by selling computers in the United States at a price of __________ and _________ computers in Japan at a price of __________?

A. 200, $2,000, 100 $1,000 B. 300, $1,800, 800 $800 C. 300, $1,800, 400 $800 D. 500, $1,400, 400 $800...

If the home country government grants a subsidy on a domestically produced good domestic producers tend to ?

A. Capture the entire subsidy in the form of higher profits B. Increase their level of production C. reduce wages paid to domestic workers D. consider the subsidy as a increase in production cost...

For year the U.S government levied quotas on inexpensive oil imported from the Middle East The quotas led to cost increases for U.S consumers totaling $3 billion for oil products. An apparent justification of this policy was that ?

A. U.S oil companies and workers deserved higher incomes B. U.S oil was of superior quality and merited higher prices C. one should not be too dependent on foreign suppliers of crucial resources D. The U.S government needed the quota revenue to balance its budget...